FSA hands out triple mortgage broker fine

The largest fine of £14,700 was handed to Mohammad Rana, registered as Countrywide Management Consultancy and trading as Property Compass. Peter Scott, trading as Mortgage House, was fined £11,900, while Chariot Mortgage Services Limited was fined £10,500. According to the FSA, all three brokers failed to gather adequate personal and financial information from their customers. Countrywide also failed to ensure one of its advisers was appropriately monitored and supervised, while Peter Scott did not have a clear understanding of the FSA’s requirements to ensure he gave suitable advice to ...