FSA cancels broker's permissions
Share
The FSA has cancelled the permission of a mortgage broker because of a failure to pay regulatory fees and levies worth £1,042.
The regulator issued Oke Hassan, a Middlesex-based mortgage broker, with a warning notice on 15 December 2009 and a decision notice on 27 January 2010.
After repeated requests to pay the fees, the FSA says the broker failed “to satisfy the threshold conditions” and cancelled the broker’s Part IV permissions.
In the final notice to Hassan, FSA enforcement division employee John Kirby says: “This failing, which is significant in the context of your suitability, leads the FSA to conclude that you are not conducting your business soundly and prudently and in compliance with proper standards and that you are not a fit and proper person, and that you are therefore failing to satisfy the Threshold Conditions in relation to the regulated activities for which you have a Part IV permission.”
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
