Friday, May 23, 2008
Sharks, Spivs, or both?
Wired Gov: FSA fines three mortgage brokers for poor mortgage sales procedures
The Financial Services Authority (FSA) has fined three mortgage brokers for inadequate sales procedures which meant they could not demonstrate that they had recommended affordable mortgage contracts that met their clients’ needs.
The FSA has fined Mohammad Rana, registered as Countrywide Management Consultancy and trading as Property Compass (Countrywide) £14,700, Peter Scott trading as the Mortgage House (Peter Scott) £11,900, and Chariot Mortgage Services Limited (Chariot) £10,500.
Posted by rental john @ 01:11 PM (249 views) Add Comment
1 Comment
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1. paul said...
£10 -15k each. Ooooooh. I bet they're reeeally scared. That's an afternoon's worth of dodgy deals for each of them.
This is not so much a slap on the wrist as a polite admonition through a cheeky smile.
Looks like its back to business as usual at the FSA again, as everyone there is nicely tucked back up in their beds at the plush FSA London HQ.