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

permission

Regulatory permission – use it or lose it

Compliance , , , ,

The FCA has published draft guidance on a new power that allows it to move faster to remove regulatory permissions that are no longer being used by financial services firms. Responses to the consultation (CP21/28) close on 29 October 2021. The driver behind the proposed power is the regulator’s belief that incorrect or outdated permissions […]

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

Update on SMR and CF (AR) applications

Compliance , , , , , , , ,

The FCA has published an update on the timescales and delays currently being experienced by firms that submit application for approval. The update is shown below. “We communicated in December 2020 about the delays in determining SMR (Senior Manager Regime) and SIF (Significant Influence Function) applications, following the large volume of applications received before the […]

Read More
ICO

Data protection – ICO mailing campaign

Compliance , , , , , ,

One of our clients recently asked this ‘easy’ question.     “We are a limited company but the firm is 100% owned by a holding company.  We have received a letter from the ICO asking us to register the holding company. Does the holding company need to register – it will not be controlling or […]

Read More
Product Enhancements

Template Upgrades – Including Attitude to Investment Risk Section

Suitability , , , , , , , , ,

We have completed the latest upgrade to ATEB Suitability on 20th September 2021. This update comes at no additional cost and provides various template enhancements. Full details of the enhancements can be found in the tables below, but some of the highlights are: Reformatted ‘Attitude to Investment Risk’ section Following customer feedback, the risk profile […]

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 Business Plan – 2021/22

Compliance , , , , , , , , , ,

Publication of the FCA’s Business Plan for 2021/22 was delayed from its usual spot in April, finally appearing at the end of July. The document can be accessed here. An overview of the content follows. Transformation The plan contains a huge amount of mission/vision speak, as is typical in the annual reports of most large […]

Read More
Load More