FSA bans broker for RMAR failures

The firm was also found not to be fit and proper to carry out regulated business and was not open and co-operative with the FSA. TOAOTR Limited, trading under the name Carbon Property Finance, failed to submit its Retail Mediation Activities Return (RMAR), which is a regulatory requirement. The firm failed to respond to repeated requests by the regulator to submit its RMAR and the firm was not open or co-operative with the FSA. The FSA concluded that TOAOTR was not conducting its business soundly and prudently and determined it was not fit and proper to give advice. The matter was not r...