The working party will help shape Ami’s response to the impending FSA mortgage White Paper, expected in late September or early October.
As part of Ami’s engagement with the FSA’s review, the working party will feed into three papers. The papers will cover the wider macro market issues, MCOB rules and issues surrounding affordability.
Ami says this comes after Aifa successfully put together a working party to help structure its policy for the RDR.
Ami director Robert Sinclair says: “FSA is already developing a view of the regulation necessary to manage the mortgage market. It is critical that intermediaries provide a strong and coherent message in advance of the Discussion Paper later this year. This working party will allow us to build on views expressed in the member consultation on mortgage regulation we ran in May and June this year.
“Given the difficulties many consumers are facing, it is vital that regulation does not restrict access to independent financial advice for those who need it most. We therefore encourage members to contribute to this Working Party to ensure any regulatory changes proposed lead to better outcomes for both consumers and the industry.”