One source who attended the three-day event, held at Cambridge University last week, said not one single network Principal had turned up. The event allowed regulated businesses to meet face-to-face with senior FSA staff to discuss compliance in-depth.
The source said: “This was a crucial event. It dealt with all the issues everyone needed to know about compliance. It is pretty unbelievable that no network representatives showed up – or hardly any mortgage people whatsoever. This event was invaluable.
“Firms were given plenty of notice about it – it was on the front page of the FSA’s website and e-mails were sent out. It was covered in the press. This is just very disappointing.”
Rob McIvor, spokesperson at the FSA, commented: “It’s a shame nobody from the mortgage networks came to the Summer School. It was heavily promoted and we sent out mail shots. It was a great opportunity to explain compliance and how firms can best work with us. In total, approximately 120 delegates attended.”
Richard Griffiths, managing director of Network Data, said it is not his job to attend these functions. “We have a head of compliance who tends to go to all the FSA events that are relevant to Network Data. It’s his job, not mine. But he is on holiday in Cyprus at the moment. But I’m surprised no network people showed up.”
