FSE London: FCA unavailable for MMR talk
Before making his speech, which covered equity release, income protection and networks, Sinclair admitted he was surprised to be the man summing it all up.
He said: “The FCA were supposed to be chairing this session, but believe it or not they said we have got nobody available who can do this because the project team who did all the work on advice and distribution on the MMR have scattered to the seven winds and there isn’t anybody who was involved in the project to talk about it.
“So I have taken it on myself to interpret this AMI’s way in how this plays out for the intermediary market.”
Sinclair would go on to call for a rebasing of the relationship between appointed representative firms and their networks, while he predicted the equity release market to be worth £5bn by the end of the decade.