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Broker banned for false applications

The FSA has banned Anthony Abiona, trading as Renbe Associates, for submitting false and misleading information to lenders.

The FSA says that Abiona knowingly submitted mortgage applications containing false or misleading information to lenders on his own and his customers’ behalf.

He also failed to protect confidential customer information, ensure file reviews were adequately carried out and recorded and make sure that information on mortgage application forms was not misleading. As a result, the FSA says he failed to act with competence and capability.

FSA head of retail enforcement Jonathan Phelan says: “Anthony Abiona provided misleading information to the lenders and it appears he also misled the FSA as well and lacks the honesty and integrity we require of all regulated firms and individuals.

“Such behaviour will not be tolerated in this industry and we will take decisive action against anyone who is not fit and proper and who poses a serious risk to lenders, consumers and to confidence in the financial system as a whole.”


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