The Financial Conduct Authority has appointed Stonebridge chief executive, Rob Clifford to its small business practitioner panel as a representative for the mortgage advice sector.
The panel is an independent, statutory body established in 2013 to represent the interests of practitioners of small or medium size firms regulated by the FCA.
All members of the panel join in a personal capacity and each member is a senior level representative from each of the major regulated sectors.
Clifford, whose appointment was formally approved by the regulator before Christmas, will sit on the panel for an initial three-year term.
Commenting on his appointment, Clifford said: “Having served the mortgage industry as both a founding director of the Mortgage Code Compliance Board and as a deputy chairman at AMI, I was really keen to continue to be an advocate for mortgage advice businesses in a formal capacity.”
Clifford noted that it is a challenging time for both customers and for some smaller mortgage advice businesses given cost of living pressures and the “significant regulatory burden facing firms due to the consumer duty and AR regime changes”.
He added: “I look forward to doing my bit to help the FCA meet its strategic objectives and consistently remind the FCA about the impact of regulation on smaller firms such as mortgage advisers.”
Members of the panel are recruited through open competition and following a due diligence process.
Prior to joining Stonebridge, Clifford was managing director of Virgin Money, director at West Bromwich Building Society and chief executive at Mortgageforce.
Clifford also has experience in the IFA sector and in protection and general insurance markets.