FCA has updated its FAQs relating to the Mortgage Credit Directive (MCD). It has added new questions concerning a range of matters under the MCD, including:
- second charge, intermediary service and foreign currency disclosure requirements;
- when a European Standardised Information Sheet is not required;
- when a firm is able to describe its services as “unlimited” or “independent”; and
- MCD implications for foreign currency lending, managing exchange rate risk.
(Source: FCA updates MCD FAQs)