FSA CONTACT

The Financial Services Authority (FSA) have given their clear intention to communicate directly with small firms through their Enhanced Small Firms Strategy. They have also highlighted that the mortgage industry and its associated protection products are under a closer focus than they ever have been (see supervisory priorities)..

This means that many firms, regardless of whether they are under close supervision, will need to communicate with the regulator. This can be quite daunting if it is something that you have no experience of.

The FSA recognises this and is holding a series of roadshows prior to the regional assessments that are being held between 2008 and 2011.

Telos can help firms prepare for contact with the FSA, as we can supply individuals who have regularly dealt with the Regulator on many types of mortgage matters.

Should a firm go through an assessment and find that remedial action needs to take place, or even a Section 166 order is used to employ a Skilled Person, the Telos Compliance service can provide both guidance and the appropriate individuals to design an acceptable action plan and to communicate directly with the Regulator.

To find out how Telos can act as a liaison with the FSA contact us here