The FSA has cancelled the permissions of mortgage brokers Green Money Limited after ruling it was not conducting its business “soundly and prudently”.
On 6 February, the FSA cancelled Green Money Limited’s part IV permission after serving the Southampton-based firm with a decision notice on 3 January.
The FSA ruled Green Money had not been open and co-operative in its dealings with the regulator and failed to respond to multiple requests to submit the Retail Mediation Activities Return for the period ending 30 June.
These failings led the FSA to conclude Green Money was not fit and proper and failed to satisfy the conditions required for the regulated activities covered in its permissions.
Green Money Limited did not refer the matter to the Upper Tribunal.