Tag Archives: FSA
FSA confirms new rules that will hard-wire common sense into the mortgage market
The Financial Services Authority (FSA) has published new rules that put common sense at the heart of the mortgage market and will prevent future borrowers ending up with a mortgage they cannot afford. The new rules, the outcome of …
FSA launches initiative to outlaw flawed sales bonuses that encourage mis-selling
Martin Wheatley, managing director of the Financial Services Authority (FSA) and chief executive officer designate of the Financial Conduct Authority (FCA), today announced that he wanted to see an end to mis-selling created by sales incentives. At a Thomson …
Posted in Regulation
Tagged FCA, FSA, Martin Lewis, Martin Wheatley, mis-selling, Moneysavingexpert.com
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FSA consults on new funding model review for the FSCS
The Financial Services Authority (FSA) has proposed changes to the funding of the Financial Services Compensation Scheme (FSCS) which will continue to provide important reassurance to consumers but could reduce the likelihood of interim levies and offer firms more …
FSA fines insurance broker £472,000
The Financial Services Authority (FSA) today banned and fined a former commercial insurance broker who used clients’ insurance premiums to fund his business. Stephen Goodwin, a former partner of Goodwin Best in Bury, Lancashire, has been fined £471,846 for …
Seven banks to review business loan sales
The Financial Services Authority (FSA) has announced that seven additional banks have volunteered to review their sales of interest rate hedging products to small and medium sized businesses. Allied Irish Bank (UK), Bank of Ireland, Clydesdale and Yorkshire banks …
£730m paid out in PPI redress in May
The FSA has announced it’s latest monthly update on the amount of payment protection insurance (PPI) refunds and compensation that are paid to customers who were mis-sold a PPI policy In May 2012, £730.5 million was paid out to customers …
Broker banned by FSA
The Financial Services Authority (FSA) has banned a mortgage broker following his role in a multi-million pound fraud, for which he was sentenced earlier this year. Brian Lambert, a former director at Talk Mortgage Services, is prohibited from performing …
Posted in Regulation
Tagged Brian Lambert, FSA, Michael Robinson, mortgage broker, Talk Mortgage Services
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FSA freezes assets of suspected land banking firm
Following a High Court order made on 13 July 2012, the Financial Services Authority can now report that on 13 June 2012 it secured asset freezing orders against a number of companies. These were: Asset L.I. Inc. (trading as …
V Loans has ‘Get out of Jail’ capital raising card for up to 5 million mortgage prisoners
Mortgage brokers and other professional advisers are already embracing secured loans, because of the growing number of clients labelled as mortgage prisoners, wishing to raise capital and unable to remortgage, says V Loans, the national secured loans packager. “We …