Regulator bans 112 mortgage 'professionals' since 2006

Data from the FCA

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The Financial Conduct Authority (FCA) has banned more than 100 individuals from the mortgage industry for fraud in the last eight years, Professional Adviser's sister title Mortgage Solutions can reveal.

The regulator, and its predecessor the Financial Services Authority, banned 112 financial professionals in the period between December 2006 and May 2014. Figures from the FCA requested by Mortgage Solutions confirm these individuals had permissions revoked by the regulator following fraudulent activity. The data shows the regulator was most active in 2009 when 43 individuals, largely advisers, were banned from the industry for misconduct. Cases that year included Arthur Kirk who was banned for failing to establish proper systems and controls to prevent mortgage fraud. Kirk, trading...

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