As part of its Mortgage Market Review, the FSA announced in June that it was to extend the Approved Persons regime to include all those who advise or sell mortgages.
The FSA had planned to launch the changes by 30 March 2011, which will require all advisers to take the Fit and Proper test.
The FSA said the delay owed to its “ongoing reprioritisation of work”.
In a statement on its site, the FSA said: “Once the rules are finalised, we will give firms sufficient time to put changes in place to comply with the approved persons’ regime, as with any new rules.
“We will be publishing a full economic analysis of all our Mortgage Market Review proposals next year, which will inform the final rules.”
Michael Coogan, director general of the CML, welcomed the decision.
He said: “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.”
