FSA freezes NI broker's assets

During a visit to Noel Heaney's firm, Heaney Finance, the FSA found serious failings leading to unsuitable recommendations. A review of Heaney's files found many customers had not been recommended suitable contracts due to a number of systems and management failures at the business. He was asked to appoint a skilled person to conduct a past business review to find any consumers who had suffered detriment. However, Heaney claimed he did not have any money to meet these costs or to compensate customers who had received unsuitable mortgages. He was unable to provide the FSA with any ev...