The Financial Services Authority is looking at the use of online financial promotions and will be taking a much tougher line on regulation of the mortgage industry, intermediaries attending this year's Mortgage Business Expo were warned.
Chris Atkinson, manager of the communication and strategy team in the financial promotions department at the FSA, says the City watchdog has taken a “graduated approach” to regulation of the mortgage industry in the first 12 months, and has been more flexible in response to problems which have arisen in recognition of the fact the industry needed time to get used to the new regime. But he warns the regulator will be somewhat less flexible over breaches of regulations in future. Atkinson says: “What we are now going to be doing is looking at where we have identified regulatory issues and p...
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