FSA

The Association of Mortgage Intermediaries (AMI) has produce a guide for intermediaries following concerns over the number of lead generation firms emerging in the market.

Fees due to the FSCS will fall across just about every fee block category except that for IFAs, according to figures published by the FSA today.

Only one lender has responded to a request from The Finance Centre (TFC) for detailed monthly reports of the amount of business being conducted on different FSA numbers.

The Consumers' Association has been granted new powers which would allow it to fine a business or force it to cease trading if it is found to be in breach of consumer legislation.

The Conservative Party says it would overhaul the way in which the Financial Services Authority (FSA) and Financial Ombudsman Service (FOS) operate if elected into government.

Pressure to meet the cost of FSA, FOS and FSCS levies has in recent months caused serious friction as some adviser operations feel they are being asked to pay costs which do not relate to their business.

The Financial Services Authority and the Financial Ombudsman Service have published updated procedures for complaints handling but say an external appeals process will not be introduced on 'wider implications' cases.

There have been a handful of responses to today's editorial, looking at the market averages used on the depolarised commission menu.

As the implementation date of depolarisation edges closer, concerns about the credibility of this long-awaited ‘commission menu' are increasing, along with the damage it appears to do to commission-led adviser business.

The Financial Services Authority says market average commissions used in the depolarisation menu will not be altered, despite industry feedback suggesting they are not representative of products' average rates.