FSA hits sub-prime adviser with £63k fine

Approved Financial Solutions (AFS), a Derbyshire-based mortgage brokerage, was found to have made numerous failings when investigated by the FSA. During its investigation, the regulator says it identified a number of concerns about the firm, including a failure to include personal information from a fact-finding process on application forms. The firm also had inadequate systems in place to monitor the quality of advice given, and could not demonstrate the suitability of mortgage contracts recommended in its client files. Procurement fees were not accurately disclosed to customers, it add...