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AMI starts forum to discuss TCF

The Association of Mortgage Intermediaries has created a treating customers fairly working party led by director Richard Farr.

The initiative follows the latest report from the FSA in the run-up to the next TCF deadline of March 31 which requires firms to have relevant management information in place.

The working party will involve key industry figures, including London & Country director of compliance and operations Patrick Bunton and Pink Home Loans network services director Kay Leslie. The first meeting is on November 28.

Farr says: “We will be working closely with the FSA over the months up to the March 31 deadline and beyond. We aim to discuss and agree the management information requirements for small and big firms to clarify the requirements for intermediaries.

“The AMI feels strongly that the FSA’s TCF proposals are ambiguous. We must ensure we provide all necessary guid-ance for smaller firms. The FSA and trade bodies must ensure small firms have every chance of achieving the TCF deadline.”

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