FSA begins to get tough on unauthorised brokers

February 2005
Credit Control;2005, Vol. 26 Issue 2, p54
Trade Publication
This article reports that the Financial Services Authority (FSA) has begun a crack down to protect homebuyers from unauthorized brokers who arrange and advise on mortgages illegally. The FSA's perimeter project team. which includes both supervisory and enforcement staff, is investigating firms which may be breaking the law by conducting mortgage business following the start of the regime on October 31, 2004. The list of firms being contacted is based on a number of sources, including the FSA's database of firms that registered or applied for authorization, but then withdrew.


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