New IFS Qualification for FSA Regulation on Mortgage MarketNew IFS Qualification for FSA Regulation on Mortgage Market
Just as the UK government begins plans to extend the remit of the FSA to include home reversion plans, the Institute of Financial Services (IFS) has announced the launch of a new qualification that will cover these elements. The IFS’ new Advanced CeMAP, to be fully launched in September 2005, brings together the key areas that are the subject of the FSA’s focus, including treating customers fairly and home reversion schemes. Advanced CeMAP will also cover regulatory supervision and alternative residential lending. Although the full advanced CeMAP menu is not released until September, two of the modules are up and running already: regulated customer care (the ‘core’ component and a stand-alone certificate in itself) and lifetime mortgages, which includes coverage of home reversion schemes. Advanced CeMAP offers advisers a means of demonstrating to both customers – and the FSA – their commitment to maintaining and enhancing their knowledge and understanding of key issues in the regulatory mortgage market.