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Treasury names 31 October 2004 as Mortgage Day

  • 24/02/2003
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Mortgage Day has finally been rubberstamped by the Treasury. Mortgages and long-term care insurance ...

Mortgage Day has finally been rubberstamped by the Treasury. Mortgages and long-term care insurance will be regulated by the FSA from 31 October 2004, with all other forms of general insurance being regulated under the FSA from 14 January 2005.

Ruth Kelly, financial secretary to the Treasury said: ‘In light of the significant delay in publication of the EU Insurance Mediation Directive, general insurance regulation will come into force on 14 January 2005. This will allow sufficient time for the FSA and the insurance industry to prepare for this major change in regulation.’


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Mortgage regulation is likely to put pressure on the smaller brokers unless they form strong local links