Brokers 'risk wrath of regulator'
The BM Solutions One Specialist survey found 28 per cent of brokers surveyed are unaware of the FSA's reports into sub-prime and self-cert.
The findings highlight a cause for concern for the industry, as the FSA's reports showed that there was room for improvement in areas such as record keeping.
Out of the 72 per cent (7 in 10) who were aware of the reports, 57 per cent found the FSA's reports to be fair. However a quarter believed the findings were unrepresentative of the market.
Tim Hague, director of BM Solutions, said: “The fact that almost 30 per cent of brokers are unaware of the FSA's reports into sub-prime and self-cert, is worrying. It's a reflection of the fact that brokers have a lot on their plates. Therefore, we want to do everything we can to raise the profile of the very important issues raised in the reports.”