There is no specific regulatory requirement to produce a suitability report for mortgages.
To our mind, this is crazy thinking and it is our strong recommendation that firms should issue reports for all mortgage related business, be it regulated or not, because this provides good protection against potential complaints.
Think about it another way – will your business be more, or less valuable, if every case is supported by a good quality suitability report?
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.
In response to the chancellor’s announcement earlier today we have updated our optional Glossary of Terms Appendix with immediate effect to include information on the revised Stamp Duty and Land Tax ‘holiday’ We are here to help Our support team are available 9am – 5pm / Mon – Fri to answer any further questions you […]
The second part of our series covering the implications of PS20/06. This time … Abridged Advice.
The effective date of the new rules on investment pathways has been deferred.
A reminder that firms having adequate PI cover is an area of focus for the FCA.
New Content Integrations from Leading Third-Parties and much more
David Anderson Suitability 2020, CleverMPS, Dynamic Planner, Evalue, FCA, ML, Pension, Pension Transfer, PI, Switch, Update
New Content Integrations from Leading Third-Parties and Much More