The AMI chief executive said he felt the work had been delivered in a way that is supportive of the intermediary way of doing business.
Speaking at the AMI Annual Dinner, Sinclair also praised the work of the various trade bodies and lender groups which have helped shape the policies.
He said: “Last year when the FSA passed the industry the poisoned chalice of an industry solution I think all were sceptical.
“Whilst it is early days and we are a long way from delivering a system, I want to put on the record my thanks to the leaders of the other trade bodies and the leaders of various lender groups who have participated very actively in discussions displaying significant pragmatism and compromise.
“Such open minds show what can be done when we really do work together and what makes this a truly great sector to work in.
“I have also, even as a dour negative Scot, got to recognise the great listening done by the FSA team on the MMR.”
Sinclair said he believed that the industry has now set out a balanced and workable set of rules which are based on commonsense.
