
UK FSA bans two mortgage brokers
Losses and Lawsuits
LONDON - Two mortgage brokers have been banned by the UK Financial Services Authority (FSA) for misleading the regulator by withholding information and submitting false or unverified information.
Andrew David Bowden, trading as Scott Jarrett Bowden and Partners (SJB), and Shaun Lawrence failed to comply with the UK regulator's rules regarding consumer protection and fighting financial crime. The FSA said Bowden and Lawrence, both sole trader brokers, had misled the regulator, displaying "a lack of honesty or integrity".
Bowden submitted false and unverified information on the firm's regulatory reports to the FSA. Lawrence removed documents from files before sending them on to the regulator. Both men failed to keep records of customer files, to keep their work secure, and to generally meet regulatory standards. The regulator said the failings hindered the consumer-complaint process and further exposed customers to identity theft and other financial crime.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
Regulation
French regulator questions need for share trading equivalence
Esma’s reinterpretation ahead of Brexit reduces need for equivalence system, says AMF official
Receive this by email