Jon Pain spoke on FSA’s mortgage market review. He looked at the issues FSA plans to look at, including responsible lending and funding, distribution and advice and extending the approved persons’ regime. FSA is also concerned about repossessions and arrears. The review will also touch on whether FSA’s regime should cover second charge mortgages. The speech also covered the aims of FSA’s PPI work and how FSA will work with the Competition Commission on the problems PPI sales have caused. Lesley Titcomb spoke at a separate mortgage conference on the regulatory environment for the mortgage world.