View more on these topics

Mortgage fraud probe is a priority

Mortgage fraud is high on the FSA’s agenda, with the regulator planning to scrutinise the adequacy of brokers’ culture and controls to curb fraudulent business.

It says there is evidence that lenders have been the victims of consumer mortgage fraud and organised mortgage fraud and says firms should have robust lending procedures to avoid losses.

The FSA warns that inadequate controls could lead to serious consequences for firms.

It says: “Such behaviour can lead to the risk that firms do not know the true quality of their lending books and that consequently their risk management tools, such as stress testing, are unreliable.”

The FSA also plans to tackle consumer data protection. It says mitigating the risks to consumers and firms of data compromise is a difficult and evolving challenge.

It says: “We conducted a thematic review of firms’ systems and controls for managing the risk of consumers’ personal data being lost or stolen during 2007 and will publish our report on the findings in Q2 2008.”


A shaw thing

Annie Shaw is a freelance financial journalistCan it be true that PR man Dominic Hiatt has a social conscience? I have learned that the leading light at newly renamed Rhizome PR and the spokesman for broker Cobalt Capital who is known as “The Polecat” is thinking of trading in his BMW Chelsea tractor.His voice was […]

Dragons can fuel fire for UK entrepreneurs

An independent enterprise review commissioned by the Conservatives has proposed a national system based on TV show Dragons’ Den to boost entrepreneurism.The review, which was conducted by the European School of Management, found that compliance costs were preventing business angels or “dragons” investing as syndicates in new businesses.It proposes reducing the costs of compliance to […]

Neptune star warns of pressure on banks

Neptune star manager Robin Geffen’s call for investors to sell their exposure to banks which do not cut their dividends this year has divided advisers and fund managers.Geffen, who runs the £562m Neptune income fund, told the Unique Boutiques conference in London last week that financials will be the big call this year, with many […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm