3 Oct

AMI welcomes Cameron reform pledge

AMI welcomes Cameron reform pledge

The Association of Mortgage Intermediaries (AMI) has welcomed the intervention of Conservative leader David Cameron in the debate about regulating the financial sector.

In its response to the keynote conference speech made by Mr Cameron this week, the AMI said it was pleased with his "broad sentiments", particularly concerning "sound money".

The AMI added that it has been calling since last summer for government intervention in the mortgage markets but said this needed to be focused on capital markets.

Instead, there has been too much regulation of the inappropriate kind, focused on the wrong areas, it added.

Mr Cameron pledged this week that he would work with the government in bringing forth any reforms that may help improve the economy and the property market.

During his speech, the Conservative leader said Gordon Brown had been wrong to remove the power of the Bank of England to regulate financial markets in 1997.

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