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MCCB countdown to M-Day

The Mortgage Code Compliance Board has set out its timetable for the closure of its key activities in the lead-up to M-Day.

The changes will take effect on October 31 when the FSA takes on regulating the mortgage industry. From that date, the mortgage code will no longer apply and the MCCB will end its activities.

The MCCB&#39s helpline will close on October 31 and callers will be directed to the FSA&#39s helpline or the Financial Ombudsman Service. The MCCB website will also close from this date although the home page will remain live for 12 months, directing users to the FSA or, in the case of a customer complaint or redress issues, to the FOS.

The MCCB also reminds firms it is unable to process any new applications for registration it receives after September 30, due to the time it takes to process applications.

MCCB chief executive Luke March says: “With Mortgage Day now fast approaching, we urge registered firms to be aware of the changes that will happen when we hand over regulation of the market to the FSA.”


LIA brokers get membership of SMP

Mortgage advisers who are members of the LIA and who transfer to the proposed Personal Finance Society will receive automatic membership into the Society of Mortgage Professionals. The Society of Mortgage Professionals is the CII&#39s new professional development body. The CII says the mortgage advisers who become part of PFS will be exempt from the […]

Duffy on Mortgages

The first full year of co-education has just finished for the FSA and the AMI. Let us look at the AMI&#39s report first. “An excellent start to its first year. The AMI is a popular, intelligent and communicative member of the mortgage class and can develop further.” Around 12,000 professional members and 30 associate member […]

Furbs from the madding crowd

Last week, I started to look at possible investments for existing funded unapproved retirement benefit schemes. Given the protected status that these schemes can secure by accepting no further contributions after A-Day, many may well feel this to be valuable. Tax-free payment of lump-sum benefits and inheritance tax freedom on the payment of benefits on […]

Platinum Capital Management – Platinum Premier Fund

Type: Hedge fund Aim: Growth by investing long and short in UK, US and European government securities Minimum investment: $100,000, £60,000, euros 100,000 Investment split: 40% US, 30% UK, 30% Europe Place of registration: Cayman Islands Charges: Annual 1.5%, performance fee 10% Commission: Subject to negotiation Tel: 020 7887 6110

Generation Rent

By Denise Wond, marketing manager We’ve heard a great deal about Generation Rent in recent years but what does it actually mean for consumers and advisers and has the face of the typical renter changed? The picture is certainly more diverse than it used to be. Homeownership is at its lowest point in 30 years, […]


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