A QUIZ FOR COMPLIANCE STAFF

As anyone in the industry should know, the FCA are not the right people to ask if you want clarity or interpretation of the rules.  But where else do you go if you disagree with their interpretation of their own SMF rules?  We’ve decided to canvas opinion in the industry instead. 

Competitor compliance firms read these web-pages just as avidly as the industry, and if you work in compliance, we’d like to ask you this question.  Does a mortgage broker firm require the SMF17 function?

Answers by email please, with accompanying evidence.  And don’t be shy!  We don’t mind which answer you give us, yes or no, because IFAC can show you why you are wrong – whichever answer you give us.

Charlie.palmer@ifac.eu

Chairman of IFAC.