The FCA has released its policy statement on the Fees & Levies payable by regulated firms for 2024/25 – we pull out the important fee changes…
The FCA has released its policy statement on the Fees & Levies payable by regulated firms for 2024/25 – we pull out the important fee changes…
We are delighted that the FCA has accepted our argument that the protection industry should be out of scope of the Advice Guidance Boundary Review…
Regulated firms are required to bring any closed products and services they continue to offer into the scope of Consumer Duty by 31 July 2024…
AMI Chief Executive Robert Sinclair gives his June update in what has been a quiet month for the industry with the upcoming general election…
AMI, via its Green Mortgage Advice Initiative (formerly MCAG), is delighted to present two upcoming webinars on the evolving world of green mortgages…
The FCA has confirmed it will be applying changes to the process of verifying callers to the FCA Supervision Hub…
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We are delighted that the FCA has accepted our argument that the protection industry should be out of scope of the Advice Guidance Boundary Review (AGBR) in its latest fees and levies policy statement.
This is a significant victory for AMI and our member firms. If implemented in the protection market, early proposals to come out of the AGBR initiative could have facilitated more automated transactions and non-advised sales – to the detriment of regulated intermediaries and consumers alike.
“We have considered this feedback and have amended our cost recovery to remove fee-block A.19 from funding the AGBR exceptional project, as we agree that General Insurance is out of scope of this project.
The AGBR is focused on the provision of investment advice, both accumulation and decumulation, and aims to create a system that ensures consumers get the help they want, when they need it and at a cost that is affordable.”
This move not only removes a financial burden from firms carrying permissions to give protection advice, but it also clarifies that the A.19 fee block and the protection industry are not the intended targets of this work.
Although outside AMI’s normal remit, we have been closely monitoring the AGBR review since its inception due to concerns about scope creep and the risk that this initiative could negatively impact on protection intermediaries.
This vigilance has paid off, as the FCA noted we were the only respondent to pick up on this issue.
For any queries, please contact info@a-m-i.org.uk.
© 2024 Association of Mortgage Intermediaries Limited.
AMI is the trading name of The Association of Mortgage Intermediaries Limited which is a company limited by guarantee, registered in England and Wales under the Companies Acts with number 7982341. Our registered address is Celixir House, Stratford Business & Technology Park, Innovation Way, Banbury Road, Stratford-upon-Avon, Warwickshire, CV37 7GZ.
Please note that we are a trade body and, as such, we do not provide mortgage advice to individuals. If you require mortgage advice, please contact an FCA certified mortgage broker who will be able to discuss your needs and advise you fully of your options.
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