Regulation

Mark Hoban has dismissed calls for a cross-party group of MPs to have the power of veto over who gets the top job at the powerful new Consumer Protection and Markets Authority (CPMA).

The director of a mortgage brokerage has been fined £14,000 by the FSA for failing to be open about his business practices and for control failings which allowed 'misleading' applications to be processed.

The IMA has expressed concern structured products will face less scrutiny under the new regulatory system set up to replace the FSA.

Long term care, mortgage and equity release qualifications could be reviewed by the FSA every three years to "ensure they remain up to date and relevant".

The equity release industry has spoken out against calls from the Society for Equity Release Advisers (SERA) to ban telephone-based equity release advice.

Six people have been charged with fraud relating to mortgage advances totalling nearly £50m, the Serious Fraud Office (SFO) has revealed.

The FSA has banned Nighat Mirza, a partner at a Manchester-based mortgage brokerage, for lacking competence and for failing to manage the firm's affairs properly.

The Financial Services Compensation Scheme (FSCS) has declared three mortgage and general insurance intermediaries in default, meaning affected customers can now start compensation claims.

The FSA has banned a Leicestershire-based broker for using high pressure sales techniques and selling subprime mortgages to customers with bad credit.

An Essex-based mortgage broker has been banned by the FSA for failing to conduct satisfactory fact-finds and delivering unsuitable advice.