FSA bans mortgage director from management for two years

Roger Collins, the only director and approved person at Thoroughgood Harrison and Davies, had his approval revoked after an FSA investigation found failings which put 300 customers at risk of receiving unsuitable advice. Poor affordability assessments by the firm's advisers affected a number of clients, the FSA review found. One client was recommended a mortgage contract exceeding his net income. Others were offered potentially unaffordable mortgage contracts which extended into their retirement. Collins' inadequate management and poor understanding of regulatory requirements meant...