Complete’s network director and head of compliance, Bill Warren, said: “All mortgage intermediary firms, whether they are opting for directly authorised or appointed representative status, must be careful to remain MCCB compliant right up to 31 October, in order qualify for “due credit” from their MCCB registration to the new FSA jurisdiction.
“Having gone through the major workload of either applying for direct authorisation, or finding the right network principal, firms might be tempted to let their attention to MCCB compliance slip. However, we are at a stage where it is vital to keep a sharp focus on MCCB compliance and make sure that nothing happens to let standards slip. This means taking care to keep up high quality advice, management and controls.”
