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

ilnes

New Ad-hoc Suitability Review Template

Suitability , , , , , , , , , ,

We have completed the latest upgrade to ATEB Suitability on 10th November 2022. This update comes at no additional cost and provides various template related enhancements as well as a brand new template designed to assist firms in producing fast and compliant ‘ad-hoc business’ reports/letters outside of annual review. Full details of the enhancements can […]

Read More
Copyright © 2023 FCA

What’s in a name?

Compliance , ,

Having recently seen examples of firms registering trading names in the wrong circumstances and/or using them in a way which may mislead consumers, the FCA has updated the information on its website.   The relevant page can be accessed here. The FCA will also be increasing focus on this area and is encouraging firms using […]

Read More
People in a business meeting

Consumer Duty is Dead, long live Consumer Duty

Compliance , , , , ,

Déjà vu? Did you watch the FCA Consumer Duty (CD) webinars? Somewhat belated perhaps and certainly no Oscar nominations arising, but nevertheless, useful in so much as they confirmed a few things and raised a few questions. Do you get the sense that we’ve been here before though? You will fondly recall the Retail Distribution […]

Read More
Black magnifying glass

FCA RegData guidance

Compliance , , ,

As previously advised, the FCA has now replaced Gabriel with RegData as the new data collection platform for gathering regulatory data from firms. All 52,000 firms that provided regulatory submissions in Gabriel now need to use RegData.   As part of its improved Data Quality controls, firms may receive a request from the FCA for […]

Read More
Copyright © 2023 FCA

Reminder for firms: Appointed Representatives (ARs) – Data Request

Compliance , , ,

On 9th August 2022 we wrote regarding the changes coming to the Appointed Representative Regime specifically outlining the new rules for Principal firms, the two main areas of change and the outcome the FCA are looking for.  The new rules will take effect on 8 December 2022. One of the two mains areas of change […]

Read More
Load More