The Agent Lending Disclosure (ALD) went live on 2 October 2006 and has been heralded by the industry as a success, giving it some long overdue respect by the regulators. The initiative took over three years to complete with a few postponements along the way, but this is to be expected with a project of its size. The number of data records being sent between agent lenders and broker-dealers to date is between 2.5 and 2.6 million.
Mariana Kind, project manager at Capco, the manager of the ALD taskforce, says: "Over the first couple of weeks some of the agent lenders were sending the files a bit later than the 3am deadline, but we have found over the past six weeks very few,...
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