The Society of Mortgage Professionals has produced a good practice guide in collaboration with Paradigm Mortgage Services advising how senior managers in the mortgage sector should examine their responsibilities.
The guide has been released to help advisers understand the FCA’s Senior Managers & Certification requirements.
The society has outlined four key actions which constitute good practice for mortgage firms, including considering customer outcomes first, and clearly representing the firm’s identity.
David Thomas, chair of the Society of Mortgage Professionals, said: “By clearly outlining levels of responsibility, firms can make it easier not just to identify areas of market abuse, but also to create a culture which promotes the fair treatment of customers.
“Aligning all financial services in this way will give customers greater confidence that a consistent and regulated system is in place.
“Ultimately, this will greatly benefit public trust.”