You are here: Home - News -

Bankhall MD warns of triple regulation pressure on broker firms

  • 13/07/2017
  • 0
Bankhall MD warns of triple regulation pressure on broker firms
The managing director of Bankhall, the compliance arm of Sesame Bankhall Group, has warned brokers to prepare themselves for increased regulatory scrutiny as several directives loom over the market.

Julie Sadler pointed to the Senior Managers Regime, the Insurance Distribution Directive and the Mortgage Market Study, as drivers of future increased regulation.

Appointed representatives can rely on their own networks to implement additional processes to comply with new regulations but directly authorised (DA) brokers must shoulder the extra responsibility.

To support DAs, Bankhall has launched a service which will give brokers access to regulatory experts and will allow them to buy a package of compliance measures which includes face-to-face compliance audits and remote post-sale file reviews.

The impact of the Senior Managers Regime is not yet known, however, the Association of Mortgage Intermediaries has said its biggest project next year will be helping brokers prepare for the increased responsibilities. Implementation is expected to begin in 2018.

The Insurance Distribution Directive will be implemented in September, while the findings of the Mortgage Market Study are expected to be published in quarter one next year.

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • Jo Wilson from Legal & General Home Finance talks about her Best BDM nomination and her love for the equity release…
  • Sponsored content: Four reasons your client wants a product transfer by Halifax Intermediaries…
  • Nationwide trims rates as Accord ups cashback on buy-to-let deals -

Read previous post:
adviser and couple sitting down
Brokers bemoan flood of ‘mediocre’ mortgage products

The significant increase in the numbers of mortgage products available is not as helpful as it may appear according to...