New FSA Mortgage and Insurance Regulations - How Company Incorporation Can Help. In just a few months, the Financial Services Authority (FSA), which regulates most financial services, will also become responsible for regulating mortgage advice, lending and administration and general insurance sales. Many firms and individuals are now setting up new companies to help them comply with the new FSA regulations. (PRWEB) american national home owners insurance country insurance March 25, 2004 -- The powers of the Financial Services Authority (FSA) which regulates most financial services, markets and firms are to be extended to include intermediation and advice relating to mortgage lending and general insurance sales. From 31st October 2004, the FSA will be responsible for regulating mortgage lending and administration. From 14th January 2005 its powers will extend to the regulation of general insurance ge auto insurance program country insurance sales (e.g. home buildings and contents, mortgage payment protection, motor and travel insurance). To avoid criminal prosecution, firms must operate in strict accordance with the new FSA rules from these dates. Businesses and individuals carrying out regulated mortgage and insurance activities have two choices if they wish to continue to be actively involved in the mortgage and/or general insurance business: ú To become directly authorised by the country insurance country insurance FSA ú To become an appointed representative of an authorised firm. In the latter case a written contract must be drawn up between the appointed representative and the authorised firm which will set out, amongst other things, which areas of compliance are the responsibility of the 'host' authorised firm. Furthermore, the regulations require insurance intermediaries to take out Professional Indemnity Insurance Cover of at least one million international travel medical insurance country insurance euros per