FSA bans broker for 'dishonesty'

The regulator found Abiona knowingly submitted mortgage applications containing false or misleading information to lenders on his own and his customers' behalf. He was also found to have failed to protect confidential customer information, ensure file reviews were adequately carried out and recorded, and ensure information on mortgage application forms was not misleading. The FSA also concluded the firm fails to satisfy the threshold conditions set out by the regulator and has inadequate resources to continue in business. Jonathan Phelan, head of retail enforcement at the FSA, says: "An...