The Role of the Principal of a Firm
The 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 […]
COMPLIANCE UPDATE | Amendments to the Risk Process
Connect has recently updated its Risk Process following an internal review to ensure our approach to overseeing Appointed Representatives (ARs) remains clear, consistent and effective. The purpose of the Process is to support our ongoing oversight of ARs by identifying where additional guidance, monitoring or support may be required to help maintain the standards expected […]
Navigating Customer Vulnerability Webinar
In today’s world, many customers are facing financial pressures, changing circumstances and personal challenges that can make accessing financial services difficult. Vulnerability remains a key focus across our industry, and brokers play a vital role in recognising when customers may need additional support. Join Siobhan Moran, Corporate Account Manager, and Ashley Dewhurst, Intermediary Risk Manager, […]
Don’t miss our Mortgage Fraud Live Stream!
Join us for a live event about mortgage fraud on Wednesday 17 June from 10:30am to 11:15am Sign up today – don’t wait! What to expect You’ll be joined by a specialist from our Fraud Investigations and Intelligence Team who’ll give you an insight into: mortgage fraud basics current trends hints and tips to support you as a broker. Secure your […]
Controller DYA Process
Whilst using the Case Management team to submit your cases works great for most advisers, there are occasions where firms may want to take on the responsibility for ensuring the DIPs and Applications are submitted accurately and the case quality is maintained. Therefore, we have amended our process to allow certain Controllers or Advisers, to […]
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 […]
Navigating Mortgage Applications: The Critical Role of Compliance
As the sun shines longer and the summer months wind down, the real estate market typically sees a surge in mortgage applications. Many prospective homeowners aim to secure their new homes before the long, dark nights set in. With this seasonal uptick, lenders are ramping up their efforts, enhancing their systems and processes to streamline […]
The Role of the Principal of a Firm
The 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 […]
Understanding Undue Influence in Mortgages and Equity Release: The Etridge Protocol and Key Legal Developments
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 […]
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 […]