The FSA has banned two mortgage brokers, fining one of them more than £100,000, for submitting false mortgage applications.
In a separate case, the FSA has also banned North London broker Moses Luzinda - who traded as Remos and Co - for submitting false mortgage applications.
"The actions of Mr Kennedy and Mr Luzinda were serious and blatant and posed an immediate risk to lenders," explains Margaret Cole director of enforcement at the FSA.
"As part of our crackdown on mortgage fraud we have banned a number of mortgage brokers and others in the last year and we will continue to make examples of people who commit mortgage fraud until behaviour changes.
She continues: "Perpetrators of fraud will increasingly find themselves facing bans, significant fines, and being required to disgorge illicit gains made through their fraudulent activities."IFAonline
Succeeding co-founder Simon Rogerson
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