The Financial Services Authority (FSA) has barred WeSearch Mortgages and Easylife UK from carrying out regulated activities after they failed to cooperate with the regulator.
WeSearch Mortgages failed to pay fees of £2,375.46 owed to the FSA and failed to submit the Retail Mediation Activities Return (RMAR), despite repeated requests for it to do so.
Likewise, Easylife UK failed to pay fees of £1,246.79 which it owed to the City watchdog.
The FSA says both firms are failing to satisfy the threshold conditions in schedule 6 of the Financial Services and Markets Act (FSMA) because it is not satisfied they are fit and proper persons, having regard to all the circumstances, including the need to ensure the businesses are conducted soundly and prudently.
Neither firm has referred the Decision Notice to the Financial Services and Markets Tribunal and the FSA has therefore cancelled their permission to carry on regulated activities.
The firm Easylife UK, which has been barred by the FSA, is in no way connected to Easylife Alliance.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Emily Perryman on 020 7968 4554 or email [email protected].IFAonline
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