• Site search

News - Regulation

Brokers reject call for increased FSA powers – Poll

Mortgage Solutions | 07 Feb 2013 | 15:17

Adam Williams

Mortgage brokers have suggested they are against the FSA getting increased powers when investigating financial firms.

investigations-magnifying-glass

The latest Mortgage Solutions People's Poll asked whether brokers agreed with Tracey McDermott, head of enforcement at the regulator, who argued that the FSA should be given powers to prevent firms from conducting business while being investigated.

However, over half of the voters (54%) in our poll disagreed with the regulator being given greater powers with just 23% backing McDermott's proposals.

The remaining respondents (23%) indicated that more detailed plans would need to be presented before any judgement could be made.

In front of a panel of MPs McDermott said that the FSA had prohibited 39 individuals last year and cancelled permissions of around 42 firms.

She said that after the arrival of the Financial Conduct Authority (FCA) the regulator would focus on ‘cradle to grave' regulation of the financial sector.

Categories: Regulation
  • Print this page
  • Share

Recent comments

blog comments powered by Disqus

Latest jobs

Job of the week

Audio/Video

Broker Board

Events

Updating your subscription status Loading

ADVERTISEMENT

Find the latest mortgage deals here

xml
ADVERTISEMENT

Events