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News Details

03 Dec, 2010

FSA delays implementation of Approved Persons regime to Mortgage Brokers

The Council of Mortgage Lenders welcomes the statement by the Financial Services Authority that it is deferring implementation of extending the approved persons regime to all those who sell mortgages.

CML director general Michael Coogan observed:

"With improved professionalism and a range of mortgage issues out to consultation, it is sensible to make changes affecting individual sellers all at the same time. Bearing in mind the fact that firms would prefer to be able to budget and plan ahead for change, we are pleased to see the FSA taking a sensible and pragmatic approach on this issue for 2011."

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