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Brokers get chance to grill FCA over execution-only

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  • 15/08/2019
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Brokers get chance to grill FCA over execution-only
Mortgage brokers will have the chance to grill the Financial Conduct Authority (FCA) over its controversial execution-only plans in a series of events.

 

The six events will take place around the country between October and March with the topics for discussion at each session determined by the attendees.

Each Ask the regulator roundtable session will include FCA and industry members.

“These sessions are an informal, open forum to ask questions and get feedback with a panel comprising of a senior FCA representative and an industry expert,” the FCA said.

“There is no set agenda for the sessions. The aim of the roundtable sessions is to answer and discuss any regulatory questions or concerns that firms operating in this market may have.”

Sessions are 90 minutes long, free to attend, and open only to representatives of regulated firms with a maximum of two representatives per regulated firm.

The regulator has had a particularly active year in the mortgage market, with its Mortgages Market Study published.

This included proposals to promote execution-only mortgage completionsa move which has been widely criticised by brokers and other industry representatives for the potential risks to consumers.

Mortgage prisoners have also been a key focus with a consultation proposing changes to affordability requirements for lenders which may help a small number of borrowers affected.

 

Dates and locations

29 October, Glasgow

14 November, Newcastle

3 December, Birmingham

23 January, London

4 February, Manchester

10 March, Newport

 

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