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AMI issues checklists for firms in run-up to regulation

The Association of Mortgage Intermediaries is issuing checklists for mortgage intermediaries to use as they get ready for M-Day on October 31.

The checklists identify the steps that mortgage intermediaries should take to ensure they are ready for the onset of regulation.

They support additional information available from the AMI designed to address key areas such as handling compliant business, training and competency and dealing fairly with complaints.

The AMI is describing the checklists as a “second pair of eyes” for members as they finalise details before October 31.

AMI policy officer Ben Stafford says: “Most firms have been very well coordinated in the run-up to M-Day but there are some firms which will have a very big shock when they realise that FSA regulation is not a cosmetic change from the mortgage code.”

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