The FSA has warned consumers that sole trader Mark Ainley may have advised clients into sale and rentback contracts without having the correct authorisation to do so.
The regulator says it has been informed that Ainley, trading as Mark Anthony Financial Management, has entered into a number of sale and rent back agreements and in doing so he has acted outside the scope of the part IV permission.
It urges any clients that have entered into such contracts with him or those who may be on the point of doing so to contact the FSA urgently.
The FSA says: “Mark Ainley, who trades from London House, 77 High Street, Sevenoaks, Kent TN13 1LD, is authorised and regulated by us. However, he has never been permitted to arrange, enter into or administer sale and rent back agreements.”