FSA hits mortgage adviser with £10,500 fine

The regulator says the Cheshire-based firm, Chariot Mortgage Services, breached principles seven and nine of its Principles for Businesses, as well as rules in chapter four of its MCOB handbook, between October 2004 and October last year. The FSA says the fine was based on two areas. Firstly, it says Chariot failed to obtain from customers, and make records of, sufficient information to demonstrate the suitability of its advice, and of the customer's personal and financial circumstances. Secondly, it says Chariot recommended mortgage contracts "which appeared not to take into account cust...