The FCA has published Consultation Paper 14/28: MIPRU Simplification (CP14/28).
In CP14/28 the FCA sets out proposals to make certain changes to its Handbook to make it simpler for certain mortgage firms to calculate their capital requirements. These are firms that undertake home financing and/or home finance administration (with assets on the balance sheet) that is connected to regulated mortgage contracts. Such firms are termed ‘non-bank lenders’. They are subject to the provisions of chapter 4 of the Prudential sourcebook for Mortgage and Home Finance Firms, and Insurance Intermediaries.
The deadline for comments on CP14/28 is 19 January 2015.
View Consultation Paper 14/28: MIPRU Simplification, 8 December 2014