FSA Mortgage Rules Conduct of Business
FSA Mortgage Rules
Conduct of Business Sourcebook (Mortgages and Home Finance) - sometimes known as MCOB
The FSA Mortgage Rules Conduct of Business are applicable to all regulated firms in terms of their activities in mortgages and home finance. They do not apply to designated investment business or non-investment insurance contracts. These are detailed separately.
The FSA Mortgage Rules contained within the Conduct of Business sourcebook are Business Standards and having a full understanding of them and what your obligations are, are therefore essential.
Having documented and updated FSA Mortgage Rules procedures for your firm can assist in demonstrating FSA compliance.
We have produced a set of FSA Mortgage Rules procedures detailing the requirements of the Conduct of Business sourcebook, including examples of what information should be included for your firm. These FSA Mortgage Rules procedures contain the following information:
- Terminology
- Client classification
- Distance contracts
- Communications with clients
- Financial promotions
- Advising and selling
- Disclosure
- Suitability
We have also produced separate documents to enhance the FSA Mortgage Rules procedures. These can be used either in association with the FSA Mortgage Rules procedures or on a stand-alone basis.
This suite of documents and FSA Mortgage Rules procedures will help you understand what is required but also demonstrate externally you are taking FSA compliance seriously by researching and understanding your obligations in this area.
Record keeping and FSA notification events are also included to help you, where they are relevant.
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