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FSA mortgage and general insurance regulation both set for Oct 2004

Following the adoption of the Insurance Mediation Directive by the European Parliament, Financial Secretary to the Treasury Ruth Kelly today confirmed that the regulation of mortgages and general insurance will come into force from October 2004.

Kelly says: “I am happy to confirm that both mortgages and general insurance regulation will come into force simultaneously. Following consultation and publication of the final Orders on mortgages, and the adoption by the European Parliament of the IMD, the date by which this will be achieved can be confirmed as October 2004.”

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