'Mortgage investment' solicitor not fit and proper

The Tribunal says Elliot’s history shows “he is not able and willing to comply with requirements placed upon him by professional rules and obligations” and he was not open and honest in his dealings with regulators. It adds Elliot “poses a risk to the protection of consumers and a risk to the reputation of the market” and concludes a Prohibition Order is necessary “in order to protect consumers from risk and…to maintain market confidence”. Elliot is not authorised by the FSA but he operates an unregulated mortgage investment scheme through his company FMD Trustees. He obtains client ref...