Pink is set to invest heavily in compliance support for both its appointed representative network and its directly authorised ‘Freedom’ proposition.
Key investment areas include the recruitment of people with the right compliance expertise and knowledge; technology; and training and broker education.
Pink began recruiting staff for both propositions in 2003 and appointed Pam Hawkins to lead its appointed representative network and Martin Key to manage its directly authorised proposition. A major recruitment drive is now underway to build on this initial investment and to ensure the people with the best compliance experience and expertise join Pink.
Pink is also investing in technology to support its compliance propositions. Its IT department is currently developing comprehensive and customer focused software packages that will form the basis of the compliance processes and procedures and support the production of compliant documentation.
Training and broker education is at the heart of Pink regulatory solutions – a guide to regulation, which outlined the main issues and how they would affect the intermediary market, was issued in the autumn of last year and was very well received in the industry. A follow-up guide is planned for this year in addition to extra roadshows in Scotland and Northern Ireland and a series of seminars are currently underway to help intermediaries who have opted for direct authorisation.
Elliott Stoneham, IT and compliance director at Pink Home Loans, comments:
“All of our customers, regardless of which proposition they choose, will benefit from this investment. We’ll offer piece of mind and full support to our network members and a range of services for our directly authorised customers to help them maintain control of their business.”
“The message we want to get across about regulation is that good compliance ultimately makes good business sense and that is something worth investing in.”
