Regulation tops AMI bill

The conference also provided a platform for Rob Griffiths, the newly appointed associate director of AMI, to deliver his maiden speech to members, where he outlined the key issues AMI is working on with regards to mortgage regulation.

Rob Griffiths spoke of how, over the past 18 months since the Financial Services Authority (FSA) took over as the mortgage industry’s regulator, AMI has worked to protect and promote members’ interests.

Key themes to emerge from Rob’s speech with regards to FSA regulation were the recent initiatives put forward concerning mortgage fraud, Treating Customers Fairly (TCF), equity release and payment protection insurance (PPI).

Rob Griffiths, Associate Director, AMI, said, ”Regulation is important but we also need to ensure that it is appropriate for our industry. Preparation is key and intermediary firms need to be ready for any changes. In the wake of the FSA’s new initiatives, it is important for mortgage intermediaries to keep their records up to date and be compliant with the regulator. However it is also necessary for AMI members to have clarity and be free from the worry of being regulated retrospectively. AMI is doing everything to ensure that members’ interests are best served with regards to these initiatives, and we are encouraging members to be proactive in tackling these issues.”

The conference also provided the opportunity to mark AMI’s third birthday. The trade body now has 85% of membership amongst mortgage intermediaries and continues to grow.

Rob Griffiths said, ”AMI has come a long way in the past three years and with the support of our members we have made a real impact within the industry. As AMI grows and evolves, we will continue to work for the best representation of our members’ interests in the months and years ahead.“