FSA bans mortgage broker for advice failings

The regulator says Antoinette Davis, who set up Ability Mortgage Solutions after her previous employer went bankrupt, failed to establish appropriate systems and controls, take reasonable care to ensure suitable advice was given and prove that she was providing sound mortgage recommendations. It states Davis failed to obtain expected retirement dates, existing mortgage rates or debt levels as well as clients' attitudes to risk. "[Davis] allowed customers to refuse to disclose information about their income and expenditure despite acknowledging this information is necessary to asse...