Menu
MMR Readiness Tracking Survey 2

On the 5th December the FCA issued its second MMR Implementation Readiness Survey request via email, and followed it with a chaser on 16th December. The last survey prompted a 68% response rate with two thirds of mortgage brokers that responded being on track.

At recent MMR workshops the FCA were clear that they were hoping to increase the response rate this time to what is a straight forward readiness questionnaire.

The survey will be tailored to your individual firm. You will be asked if you are an intermediary, if you have a plan (see here), whether you will implement on time and whether you need any further communications from the FCA. 

 

Don’t forget to check Our View about this article and the Actions Required By You

MMR Readiness Tracking Survey 2

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

The changes outlined in the MMR are regulatory requirements that all mortgage advisory firms must comply with. It is important that you understand the changes, what will be required of your firm and plan accordingly to ensure you are ready for 26th April 2014.

Action Required By You

  • We would recommend that all firms with mortgage permissions complete the questionnaire;
  • We would also recommend that you have a copy of the last questionnaire completed to hand to ensure that your answers are consistent and planning has not reversed;
  • For ATEB clients please discuss progress with your consultant in Q1 2014 when we will have MMR compliant documents available.   
SUIT - Beautiful Reports
CREATE BEAUTIFUL
SUITABILITY
REPORTS
TRY IT FOR FREE
SUIT - Complete Control
TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION
TRY IT FOR FREE
SUIT - Comp confidence
SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE
TRY IT FOR FREE
previous arrow
next arrow

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in

Dark_wall_just_ateb_signage

An ATEB reminder for all staff involved in insurance distribution activities

Compliance , , , ,

We thought it appropriate to issue a New Year reminder for firms that have staff …     directly involved in the carrying on of the firm’s insurance distribution activities; or within the management structure responsible for the firm’s insurance distribution activities; or responsible for the supervision of a relevant employee acting in the capacity […]

Read More
Bokeh photography of lights

Regulatory priorities for 2023

Compliance , , ,

As 2022 comes to an end, all our readers are probably thinking more about the imminent festivities and looking forward to a well earned break from what has undoubtedly been a difficult year in several obvious respects.   We at ATEB are also looking forward to a few days off. However, without wishing to spoil […]

Read More
https---s3-eu-west-1.amazonaws.com-fta-ez-prod-ez-images-5-2-0-7-1217025-1-eng-GB-FCA2.JPG?v1

FCA – moving to ‘External Multi Factor Authentication’

Compliance , ,

The FCA recently advised of incoming changes to how firms access FCA systems.     In order to protect firms’ data, the FCA are to implement multi factor authentication (MFA). This will replace the current method used by firms to log into the FCA systems. Multi-factor authentication ensures only you access your accounts. Currently firms […]

Read More
Copyright © 2023 FCA

10% Portfolio Drop Rule – dropped!

Compliance , , , , , ,

As part of the Government’s reforms of previous EU legislation, next on the list is the proposal to scrap the 10% portfolio drop rule, which was introduced within MiFID II rules in January 2018.   Under the legislation firms were required to notify clients where the overall value of their portfolio had fallen by 10% […]

Read More
Copyright © 2023 FCA

GI – value measures

Compliance , , ,

We have received the following from the FCA.     We want to draw attention to a new FCA publication; https://www.fca.org.uk/data/general-insurance-value-measures-jul-dec-2021 As you will be aware, in our General Insurance (GI) add-ons market study (MS14/1) we identified poor product value as an area of harm in general insurance. This has been caused by ineffective competition between providers […]

Read More
Load More