This includes specifically designed IDD- and KFI-style documents and a sales & compliance monitoring system that covers all the necessary steps and documentation required for the FSA’s interim regime for SRB (1 July 2009 to 30 June 2010 when the full regime will begin).
Richard Angliss, managing director of Home Buyer Systems commented: “Many brokers have been taken by surprise at the FSA’s fast track timetable for implementing the interim regime for SRB. In particular, the very short timescale for applying for new interim permissions and varying existing permissions, also interim (which closes on 1 August) will entail a lot of concentrated effort by providers and brokers that want to be a part of this fast-growing market.”
The new Home Buyer SRB system has been developed with assistance from Bill Warren Compliance LLP. Managing director, Bill Warren, said: “Many brokers are unaware that, if they miss the 1 August deadline for applying for interim authorisation or variation of permission, they will not be able to apply until the full regulatory regime for SRB comes into effect on 30 June 2010. The fully compliant sales system now provided by Home Buyer systems can potentially provide SRB brokers with an instant solution for their documentation and systems needs, giving them some breathing space to deal with their authorisation applications.”
