Two sole trader mortgage brokers have been banned by the FSA after they were found guilty of misleading the regulator.
Andrew David Bowden and Shaun Lawrence, trading as Scott Jarrett Bowden and Partners (SJB), submitted false and unverified information on the firm's regulatory reports, the FSA says.
Additionally, Lawrence removed documents from files before sending them on to the regulator.
Both brokers failed to ensure their work reached the appropriate regulatory standards, the FSA adds, while both also failed to keep a record of all customer files and failed to keep documents secure.
"The FSA will not tolerate firms who fail to understand and comply with our rules," Jonathan Phelan, FSA's head of retail enforcement, says.
"The actions of both brokers amply illustrate that they lacked not only the competence and capability to follow our rules, but also demonstrated a failure to act with honesty and integrity.
"We have now ensured that both Mr Bowden and Mr Lawrence are unable to work in the regulated industry again and this sends a message to firms that we take failures to comply with relevant standards extremely seriously."
Although the FSA did not uncover any actual customer detriment in these cases, if any customers of Shaun Lawrence or Mr Bowden's firm SJB have concerns, then they should get in touch with the FSA's customer contact centre on 0845 606 1234.IFAonline
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