COMPLIANCE UPDATES

A vulnerable customer is someone who, due to personal circumstances, is especially susceptible to harm when engaging with financial services. The FCA expects firms to identify, understand, and appropriately support such customers to ensure fair treatment and good outcomes. For further help and detail on how we can all work together to ensure customers receive […]

The next batch of emails will shortly be going to your completed mortgage customers from Elevation. As a reminder, these emails will be as if you had sent them, but will be sent automatically for you from the Elevation system. You should by now have received your login details directly from Elevation, and you will

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

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

Staged Income – What Mortgage Advisers Need to Know In recent months, we have seen a marked increase in lender warnings issued to mortgage advisers regarding staged income cases, as well as instances of advisers being removed from lender panels. While panel removal can sound serious, it’s important to recognise that these situations are almost

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.

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

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

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

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