YOUR INDUSTRY
Top 10 Hot Topics
- Consumer Credit Act
- Advertising
- European Credit Directive
- OFT
- Principles-based regulation
- Treating Customers Fairly (TCF)
- Payment protection insurance (PPI)
- FSA
- FOS/FSCS
- FAQs
Your Industry
Current Issues
FAQs
Our Technical Helpdesk receives 1000’s of calls each year on topics ranging from the RMAR to FOS complaints. Questions are varied, but there is often a common theme. Here you’ll find an overview of issues we believe are of interest or concern to IFAs. If there is anything in addition you would like to explore, or questions you may have, please email us at info@aifa.net.
Q. What is the difference between AFB and FISA?
A. Essentially the AFB is a trade association representing the interest of its members to legislators, regulators and themedia. The AFB only represents the interests of Brokers in the industry, those engaged in recommending loans secured by second or further legal charges over residential property.
FISA is a self-regulatory body that sets standards for the industry and monitors firms’ adherence to these standards. This is operated on behalf of Lenders and Brokers although their code and compliance monitoring activity is principally focused on Brokers.
Q. Why should I join the join AFB?
A. The more firms that join the AFB the stronger the voice the industry has. Also you will benefit from full access to our services including monthly newsletters keeping the industry up to date on regulatory developments and FactSheets advising on how to conduct your business in the most effective way.
Q. What are you doing to defend the industry on the way it sells PPI?
A. We have made and are continuing to make appropriate representations to the FSA, OFT and the Competition Commission. We have produced a FactSheet for members to review their activities on how they sell PPI and we recommend that all members use the checklist it contains to check how well they are operating.