First broker hit by FSA thematic review of advice

Several more enforcement cases have arisen from the thematic review, it adds, and will be announced in due course. In 2008, the FSA’s Small Firms and Contact Division undertook the review into the quality of advice in the mortgage sector, and Bournemouth-based Leybridge is the first firm to face enforcement action as part of this project. The FSA found that Leybridge frequently failed to gather adequate information on customers’ circumstances, including existing debts, net income and expenditure and previous mortgage details. Several instances were discovered when customer with normal fu...