1. Presented by Frank Eve 14/5/08

2. www.tcfinfo.co.uk Agenda Introduction Principle Based Regulation TCF Lender Forum - background www.tcfinfo.co.uk Current position Conclusion

3. www.tcfinfo.co.uk Principle based Regulation The FSA Principles “The Principles are a general statement of the fundamental obligations of firms under the regulatory system”

4. www.tcfinfo.co.uk Principle based Regulation Lenders and distribution have differing but interlocking responsibilities Paper issued FSA Provider/Distributor Discussion Paper DP06/4 Intermediary TCF practices key element for FSA

5. www.tcfinfo.co.uk Founded in Nov 2005 Founding members: Freedom Lending Future Mortgages GE Money Home Lending Money Partners Platform Preferred Mortgages Rooftop Mortgages Southern Pacific Mortgages October 2007 CML facilitates membership from across the industry The TCF Lender Forum

6. www.tcfinfo.co.uk Supported by CML & 28 mortgage lenders Abbey Accord Advantage Alliance & Leicester Barclays Beacon Homeloans Bradford & Bingley/ Mortgage Express C&G chl mortgages db mortgages edeus Future GE Money Home Lending GMAC-RFC Kensington Money Partners Mortgages plc Nationwide Building Society Northern Rock Paragon Platform Rooftop Southern Pacific Mortgages/ Preferred Principality Building Society Standard Life Bank ® RBS Wave West Bromwich BS

8. www.tcfinfo.co.uk TCFInfo Takes what the FSA has produced and turns it into ‘plain english’ with practical tools to implement Always provide deep links into FSA site on relevant information

9. www.tcfinfo.co.uk

21. Intermediary comments “Just what the industry needs, great” “Very useful and will be implemented in our TCF policies” “I would like to take this opportunity of thanking you for the excellent production of tcfinfo website. It contains an absolute wealth of information” “Excellent site, very clear with lots of useful and practical assistance”

22. www.tcfinfo.co.uk Latest MI Research – Key Findings March 08 75% confident of what to do to use MI to monitor TCF Progress Of these almost all had read or reviewed the TCF Info MI pages 94% said site was useful 52% said the site was very useful 25% said site was useful 17% said site useful and need to review again

23. www.tcfinfo.co.uk Benefits for intermediaries The only FREE, non-commercial resource One stop shop for information and links on TCF matters Easy to use with practical tools Research shows that those using the site are more able to fulfil TCF obligations Register for FREE regular e-newsletter

24. www.tcfinfo.co.uk

25. The current position - FSA deadlines Firms must now have evidence that systems are in place to test if customers are being treated fairly December 2008 must be able show that they are consistently treating customers fairly FSA already taken enforcement action against some firms

26. www.tcfinfo.co.uk The current position – FSA’s position FSA still concerned with rate of progress "For those firms that miss the deadline and fail to take their obligations seriously, our message is absolutely clear – you will face more regulatory intervention." FSA plan to assess 11,300 small intermediary firms over the next three years

27. www.tcfinfo.co.uk Conclusion TCF high on FSA priority therefore industry should be concerned www.tcfinfo.co.uk the only free resource The site works – research & feed back shows intermediaries value the site Go on to the site – register for updates and see how it can help you It’s in the interest of the whole industry