The Mortgage Marketing Centre, one of UK’s oldest mortgage packaging and placement companies, announced today that it had received its “Minded to Approve” letter from the Financial Services Authority giving preliminary approval for it to operate as a Network from the date of regulation and for all the other Permissions, for which it had applied.
Chris French, Managing Director, said “This letter is hugely important for the Appointed Representatives pledged to us. They can now have every confidence that they will be exempt from direct regulation from 31st October because they will be Appointed Representatives of an authorised Network.
It is also important for us because we have persuaded the FSA that we possess the systems and controls to manage a Network of Appointed Representatives. We can now continue with our plans and make crucial appointments in the Compliance positions.
Chris went on to say: “Those brokers that have not applied for direct authorisation and who have not yet signed up to a Network must now choose the right business partner as it will be crucial to their long-term future growth and in some cases their existence in the market”.
