Tenet worried by regulation on the horizon

Published on

Tenet has expressed concerns over the amount of proposed regulatory changes, which the IFA support services group believes are likely to deliver poorer consumer outcomes.

According to distribution & development director, Keith Richards, all sectors will be challenged by a range of new regulatory requirements, which will ultimately impact on jobs across the industry and cost millions of pounds to implement.

Much of the recent focus has been on RDR, but there is a lot more on the horizon with revision to the IMD planned for early 2012, as well as a revised MiFID, the introduction of PRIPs and Solvency II. There will also be an amended regulatory architecture at both UK and European levels just to mention a few.

Richards said: “The industry must join forces more effectively and be given positive incentives to develop by the regulator. Much of the impending regulation offers little by way of incentive and is perceived by many as a threat. Consequently

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Bank of England expected to hold interest rates at 4.5% amid economic uncertainty

The Bank of England is widely expected to maintain interest rates at 4.5% when...

£6.5k bill for homebuyers who miss stamp duty deadline

Rent and mortgage spending rose 7.7% year-on-year in February, as more homeowners moved from...

Advice Guru partners with Pure Retirement to support broker education

Financial adviser learning platform Advice Guru has announced a new sponsorship partnership with Pure...

Nationwide ups LTV limits for interest-only and foreign national borrowers

Nationwide has announced changes to its mortgage lending criteria, increasing the maximum loan-to-value (LTV)...

Other news

Why predicting 2025 interest rates feels like a fool’s errand

In my first (and for some reason clearly not my last) article last month,...

Bank of England expected to hold interest rates at 4.5% amid economic uncertainty

The Bank of England is widely expected to maintain interest rates at 4.5% when...

£6.5k bill for homebuyers who miss stamp duty deadline

Rent and mortgage spending rose 7.7% year-on-year in February, as more homeowners moved from...