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FSA authorises more mortgage and GI firms

The FSA has announced that by the 31st May it had received 17,586 registrations from the mortgage and general insurance sectors to obtain an application pack and 10,515 applications for authorisation. 6,484 registrations were from the mortgage sector, 5,810 from the primary insurance market and 5,292 from the secondary insurance market.

Also, by the end of 31 May, 2,314 letters had been sent to applicant firms indicating that the FSA was minded to authorise them to carry out mortgage or general insurance business. Of these the split was mortgage 1,530, primary insurance 691, and secondary insurance 93.

Director FSA High Street Firms Division Sarah Wilson says: “We continue to be encouraged by the level of engagement shown by the industry as reflected in the latest registration and application figures. Much progress has been made since the authorisation process got under way at the beginning of the year.”

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