The Association of Mortgage Intermediaries has launched its latest factsheet entitled on the impact of European legislation on the UK mortgage market.
The information entitled A Guide to European Financial Services Legislation and has been unveiled as the AMI claims the impact of European Commission decisions is having an increasing effect on UK financial services.
The factsheet also provides information on the major European institutions
and the specialist European institutions involved in producing and implementing European directives. It outlines the approach the Commission uses to approve financial services legislation, which splits the approval process for Directives into two levels:
AMI associate director Rob Griffiths says: The European agenda continues to shape and impact the regulation of UK financial services. We have already seen the impact of major European directives such as the Insurance Mediation Directive which resulted in the regulation of the general insurance sector. The Commission has also turned its attention to mortgages with its Mortgage Credit output.
With both Mifid and the CCD on the horizon, intermediaries should be aware of their content and their potential impact.