Davidson, who is director of supervision in the the FCA's retail and authorisations division, told delegates at the Building Societies Association conference today that MCD rules pull in the same direction as the Mortgage Market Review.
Mortgage Credit Directive rules won't be dismantled in the case of a Brexit, Jonathan Davidson of the Financial Conduct Authority has indicated.
Davidson, who is director of supervision in the the FCA's retail and authorisations division, told delegates at the Building Societies Association conference today that MCD rules pull in the same direction as the Mortgage Market Review.
In a Q&A session Davidson was asked whether he'd like to see a dismantling of any areas of legislation handed down from the EU.
He responded: "No I don't. People have asked me what will happen if there's an out vote and actually a lot of European legislation has been going in the same direction.
"The Mortgage Credit Directive is a huge overlap; certainly in the same direction we'd already gone with the responsible lending rules."
The MCD came into force in the UK in March 2015 and the MMR was introduced in April 2014which brought inaffordability stress testing.
Davidson joined the team in September 2015 from Direct Line where he was chief operating officer.
