CFI: NACFB


replacements, but it’s impor- tant that we have a fair spread from across the commercial broker sector, because when we make rules, we want them to be fair rules. We want them to be rules


that our member brokers agree with. T ere is no in- centive among our directors to impose requirements that we know to be irrelevant to our members, or that add no value to membership.


Clout And because we regularly meet with MPs and trade body representatives, we un- derstand the need to get the balance right between keep- ing life straightforward for our broker members on the one hand, and demonstrat- ing rigorous regulation on the other. Since the new emphasis on


training and education was announced at our Annual General Meeting on 23 No- vember, the NACFB’s London offi ce has taken a number of calls


from members asking


why we have taken this step. T e answer is, again, “we get the regulation we deserve”. Being regulated by brokers


is a privilege rather than a punishment. T at’s because our directors have walked in our members’ shoes.


Money, money, money We’re confi dent that there is nothing needlessly oner- ous or unaff ordable in our requirements for 2013. How-


“We want to regulate the best brokers, effectively and fairly”


ever, there’s no getting around the fact that it costs money to run the Certifi cate of Business and Banking Conduct exam and the online modules and we have no option but to ask our members to pay for the course. For a minority of our members,


that means they


will have to pay more than last year to remain as mem- bers. And we do understand that when prices go up, peo- ple question the motives. T e NACFB’s motives are


fortunately easy to explain. We want to regulate the best brokers, eff ectively and fairly, without compromise. If bro- kers cannot regulate them- selves, then they will deserve an outside regulator. And we can do a better job than an outside regulator. It’s as sim- ple as that. Adam Tyler is chief executive of the NACFB


NACFB in the Eurozone


Andrew Goodwin from Ox- ford Economics delivered an absorbing speech to the as- sembled NACFB members at our Annual General Meeting on 23 November. He brought us fi gures that


demonstrate how the real los- ers in the drying-up of credit supplies have been small com- panies. He went on to say: “High


infl ation – caused by rising commodity prices and tax in- creases – has cut real wages [while at the same time] the Eurozone crisis has hit exports and investment.” We may be a UK body made up of UK brokers, but Andrew


Goodwin’s sobering presenta- tion spells out exactly how we are all aff ected by the Euro- zone: having our own currency and our own association does not help when we are trying to sell services and products to our continental cousins. Seeing the how much catch-


ing up there is to do, is there any cause for optimism? Ox- ford Economics thinks there is. T eir projections for the com- ing two years in the UK sug- gest a gradual emergence from recession – helped, of course, by greater investment, and serving as another reminder that we have to get the banks lending. It’s a message the NACFB dedicates a huge amount of time to, and that’s why we’re so grate- ful to Oxford Eco- nomics for joining us at our AGM and sharing their fi ndings with us with such generous clarity.


NACFB Events - Dates for your diary for 2013: 20TH FEBRUARY Bristol Workshop


27TH FEBRUARY Asset Finance Seminar 21ST MARCH 12TH JUNE 25th JUNE 26th JUNE


19TH SEPTEMBER London Workshop 25th SEPTEMBER Manchester Workshop DATE TBC


Gala Dinner There will also be specifi c Regional and Funder Events


NACFB presentation and stand at the Supporting Business for Growth Conference 2013 Metropole Hotel, Birmingham NEC Birmingham


Nottingham Workshop Summer Drinks Reception


Commercial Finance Expo Hamilton House, London City of Manchester Stadium


SS Great Britain


Church House Conference Centre, London Best Western Nottingham Derby Hotel


www.mortgageintroducer.com


MORTGAGE INTRODUCER JANUARY 2013 43


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