You are here: cherry > Press releases for February 2011 > HBS teams with Bill Warren Compliance LLP to help brokers achive FSA deadline for ICOBS compliance

02 February 2011

Home Buyer Systems, provider of total business cycle systems for mortgage and general insurance brokers, has teamed with Bill Warren Compliance LLP to provide a comprehensive support package for brokers to meet the FSA’s May Insurance Conduct of Business Sourcebook (ICOBS) compliance deadline. Home Buyer Systems will supply its Protect and Insure sales and compliance process, with the option to add its Compliance and Management Information System, to fulfil the FSA’s systems and controls requirements . Bill Warren Compliance LLP will provide support in analysing brokers’ existing systems, producing a GAP analysis, and putting together a response to the FSA. Bill Warren explains: “This new, combined support service has been developed in response to the FSA’s November 2010 “Dear Compliance Officer” letter, which specifically targets firms selling pure protection contracts and PPI contracts and which is in addition to the FSA’s “Open Letter” of August 2010 in relation to PPI complaints. “Any brokers firms covered by the FSA’s November 2010 letter to Compliance Officers must provide the FSA with written confirmation by 30 May that their sales policies and systems comply with all ICOBS requirements. If unable to do this, then a written plan and timetable must be submitted. With the deadline now approaching fast, we believe the support service that Home Buyer and Bill Warren Compliance LLP are now offering fills an urgent gap in the market, and will be welcomed by brokers.” Richard Angliss, managing director of Home Buyer Systems, believes that many broker firms subject to the ICOBS compliance deadline are still unaware of it. He says: “It is known that large numbers of mortgage broker firms are entering the pure protection and GI marketplace in an effort to boost income as the mortgage market remains depressed. For firms that are relatively inexperienced in this field, the Home Buyer Systems/ Bill Warren Compliance LLP combined support package can help deliver a professional and fully documented response by the May deadline. Brokers need to take immediate action to avoid being caught unprepared as the deadline approaches.” More information for brokers can be found at www.homebuyersystems.com Bill Warren Compliance LLP can be contacted at bill@billwarrencompliance.co.uk Ends

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