Mortgage Solutions understands that the regulator visited PTFS on Monday and Tuesday this week.
David Carrington, newly-appointed marketing director at PTFS said: “This is a standard approach from the regulator which we adhere to.
“During the FSA’s visit, the majority of the time was spent talking to the compliance risk director. One of her over-riding responsibilities is to make sure we have risk management systems in place to adhere to and which are robust.”
In the regulators Handbook, the principle under Management and Control states: “A firm must take responsible care to and control its affairs responsibly and effectively, with adequate risk management systems.”
Mortgage Solutions understands that Vikki Jenson, regional sales manager at Personal Touch Financial Services (PTFS) resigned from the network over a week ago.
Her resignation follows the departure of former chief executive Doug Crawford in February and in recent weeks, head of sales development Andy Walton and sales and marketing director Dev Malle, who left last Friday.
PTFS’ director of IFA services John Ruddick was made redundant over a month ago following a board restructure.
Sources have suggested that since the high profile departures from the network, there has been “no relationship with the membership anymore.”
Yesterday, PTFS announced the appointment of a new management team to drive the business forward under the leadership of Max Wright, chief executive officer (pictured).
David Carrington, a former chief executive of Policy Plus and previously head of sales at Eagle Star joined the team in a newly expanded role of marketing director.
