The one-day workshops, in conjunction with GMAC-RFC Partners and SPML, are being held at Mere Golf & Country club in Knutsford on Tuesday 24 July and Aldenham Golf and Country Club in Watford on Thursday 16 August.
These workshops are free to mortgage brokers and are specifically aimed at bringing brokers up to date with the Financial Services Authority’s (FSA) expectations of mortgage brokers implementation of the ‘Principles-Based Regulation’ and ‘Treating Customers Fairly (TCF)’.
The workshops will be presented by compliance specialists from FMO, GMAC-RFC Partners and SPML, and are designed to cut through the complexities of FSA principle-based regulation and to explain in clear and concise terms the way the regulator has been interpreting the rules in the last couple of months. Many firms will be surprised by the level of scrutiny being adopted by FSA inspectors and need to be aware of the standards now expected of them.
Failure to take notice of the FSA’s recent activities could potentially put many firms at risk, and the aim will not only be to explain what firms need to do to comply, but also what measures are needed to be taken to help protect themselves against regulatory action or complaints from customers.
David Espin, head of compliance at FMO, said: “The FSA has been very busy lately with thematic projects, ARROW visits and enforcement notices being issued to an increasing number of firms both large and small. The level of FSA activity and the depth of their reviews are now far greater than ever before and brokers need to get up to speed very rapidly if they are not to fall foul of the regulator and potentially put their business and livelihoods at risk.”
