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FSA expects flood of applications

The FSA is anticipating a surge in applications for mortgage and general insurance regulation ahead of its 30 April deadline

With little more than a week to go, FSA is expecting another peak in application levels. Applications have to be submitted at this time for a firm to be certain the FSA can process it by 31 October — M-Day.

The FSA says firms in both mortgage and general insurance sectors are actively identifying their choices such as seeking authorisation or to become an Appointed Representative.

An FSA Spokesman says: “We are encouraged by this level of engagement by the industry and we expect to issue the first set of decisions to applicants in the form of “minded to authorise letters” at the end of next week.”

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