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FSA bans mortgage broker

The FSA has revoked the permission of a Kent mortgage broker after he failed to pay out an FOS award against him.

The regulator has banned George Loscombe, trading as Simple Mortgage Solutions in Sheerness, after he failed to appeal against a decision notice in April.

The FSA says Loscombe, a directly authorised broker, failed to pay out after the ombudsman ruled against him in March 2007.

The FSA informed Loscombe: “This failure, 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, that you are not a fit and proper person.”


EC wants council to assess financial risk

The European Commission is calling for the creation of a new European Systemic Risk Council and European System of Financial Supervisors as part of its reforms to financial supervision in the EU.The EC says a European Systemic Risk Council should monitor and assess risks to the stability of the financial system as a whole. The […]

The changing world of professional connections

The Legal Services Act of 2007, which opened up the legal market to competition, has put the cat among the professional pigeons. In the words of a 2015 Law Society report on what the legal profession is likely to look like in five years’ time: “Business as usual is not an option for many, if […]


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