The Financial Conduct Authority (FCA) is increasingly turning its focus to individual mortgage products and more intervention in the market is likely, according to Deloitte.
Speaking at the CML product innovation conference in London, a number of lender representatives said the regulator was becoming more involved with product creation. Stephen Williams of Deloitte said the FCA was currently examining a number of products and he expected the regulator to start issuing warnings against certain lenders. "The FCA has a strategic objective to intervene earlier in the product cycle," he said. "They want to be intervening earlier and need very little evidence to do so in the current regulatory environment. "The FCA is looking at 20 products and 48 contracts ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
