AMI launches TCF working party

The working party will be led by Richard Farr, director of AMI, and will involve key members of the industry, including Patrick Bunton of London and Country and Kay Leslie of Pink Home Loans. The initiative follows the latest report from the FSA in the run up to the next TCF deadline of 31 March.

Commenting on the working part, Farr said it would provide a forum to discuss the key TCF issues facing members. He added: “We will be working very closely with the FSA over the coming months up to the 31 March deadline and beyond. We aim to discuss and agree the MI requirements for small and large firms alike, to clarify the requirements for intermediaries.”

Farr said it felt the FSA’s TCF proposals were currently ‘too ambiguous’. He added: “We must learn from previous deadlines and ensure we provide all of the necessary guidance for smaller firms. The FSA and trade bodies must ensure that small firms have every chance of achieving the TCF deadline.” AMI’s first TCF working party meeting will take place on 28 November.