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AMI guides firms through cold-calling regulations

The Association of Mortgage Intermediaries has produced a factsheet on cold-calling for its members, clarifying the FSA&#39s position as regulation on cold calls is scheduled for this year.

Cold-calling will be banned once statutory regulation starts in October but the AMI&#39s guide concentrates on what intermediaries will be allowed to do with regard to cold-calling.

This could be lead-generation through market research, where, for example, a consumer has ticked a box saying they would be interested in receiving advice about mortgages from a named firm after completing a lifestyle questionnaire.

The guide has been produced following discussions with the FSA, a review of the final rules and guidance from the regulator.

Director Chris Cummings says: “There has been much said about the cold-calling ban. Most of it has focused on what mortgage intermediaries cannot do. AMI always looks for ways in which members can carry on their business within the rules and so we decided to produce a guide letting members know what they can do.”

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