COMPLIANCE UPDATES

Protecting Client Data: Secure Email Guidance for Members

When communicating with clients, please be mindful that including personal data in standard emails (such as names, addresses, DOBs, mortgage details, or account numbers) carries security risks. Unencrypted email can be intercepted, misdelivered, or accessed if an account is compromised, potentially leading to a GDPR breach. It is fine to send general market updates, confirm

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Changes to the Do Your Own DIPs and Applications (DYA) Process

We have updated the DYA process to provide greater flexibility for advisers. Key Changes Experienced Adviser Approval: Any adviser who is considered experienced will now be eligible for DYA approval. Tenure-Based Eligibility: Advisers who have been with the network for more than two years may also be eligible, but this will be dependant on a review by compliance. No Automatic Approval: DYA approval is not granted

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Understanding Undue Influence in Mortgages and Equity Release: The Etridge Protocol and Key Legal Developments

In the mortgage and equity release market, particularly where one party provides security for another’s borrowing, legal safeguards are essential to prevent exploitation or abuse. A central concern in these transactions is undue influence, where one person uses their position of power to persuade another to enter into a financial agreement against their best interest.

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Pure Protection Market Study Review

The Financial Conduct Authority (FCA) has launched a market study into the distribution of pure protection insurance products to retail consumers. The aim is to evaluate whether the market operates effectively and delivers fair outcomes for consumers. You can read the full report HERE Scope of the Study The FCA’s review will focus on four

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Lenders are Pushing Back on Broker Fees

We want to bring to your attention the ongoing scrutiny by lenders regarding what they determine to be fair and reasonable levels for broker fees. Initially, this focus was placed on residential mortgages, which led to a reduction in our network’s fee tolerance for residential transactions. However, lenders are now extending their review to include

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The Role of the Principal of a Firm

he Financial Conduct Authority (FCA) expects principal firms to exercise effective oversight and supervision of their appointed representatives (ARs) to ensure compliance with regulatory requirements and prevent harm to consumers and markets. Key expectations include: Pre-Appointment Due Diligence – Principals must conduct thorough checks before appointing an AR, assessing its financial stability, business model, and the

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The Benefits of having an FCA Number

Anytime an Appointed Representative (AR) joins Connect, they are given an FCA number, whether they conduct regulated activity or not. There are many advantages to this, which will benefit your business, your clients and us as a Network. Benefits for a Mortgage Adviser Legitimacy & Trust – Being an FCA authorised firm gives you credibility, showing

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Sending Terms of Business through DocuSign via OMS

Following feedback from advisers, we’re pleased to confirm that you can now send Terms of Business letters through DocuSign using OMS. This new process brings several key advantages: Faster turnaround: Documents can be sent and signed quickly, reducing delays. Up-to-date documentation: The system ensures that the latest version of the Terms of Business is always used.

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