Brokers charged £20 for MMR seminar

The events, held on a range of dates across the country, are intended to offer intermediaries a chance to hear the MMR explained by FSA officials and ask questions.

The FSA said: "These are not compulsory events so people are free to choose whether or not they attend.

“The £20 fee is a small contribution towards the overall cost of holding the event; it does not cover the total cost and the FSA makes up the difference."

John Malone, executive chairman of PMS, said he was disappointed the FSA had chosen to charge brokers an additional £20 to attend.

He said: “It’s excellent news the FSA is going around the country explaining CP11/31 but bearing in mind the fees already paid by brokers it’s disappointing to see an additional charge.

“I hope it doesn’t deter intermediaries from going along but I do think it’s a charge too far.”

The regulator website said the sessions are intended to give all those involved in selling mortgages an opportunity to understand and consider its proposals.

“The roadshow will therefore include a presentation of all the MMR proposals followed by an opportunity to ask questions, get involved in some interactive discussion and provide us with feedback,” the FSA added.

CP 11/31 Mortgage Market Review: Proposed package of reforms was published on 19th December 2011.

The consultation period ends on 30 March 2012.

Further sessions for mortgage lenders and administrators will be held on Thursday 26 January in Leeds and on Tuesday 7 February in London.