The FSA has banned a mortgage broker for fraud and concealment of governance arrangements.
The action has been taken against Birmingham-based broker Mohammed Hanif for giving the regulator false information in order to conceal his involvement in running Park Property Centre. According to the FSA, the authorisation letter said Hanif's daughter-in-law, Zaneb Sarfraz, had the necessary credentials to manage Park Property Centre when in fact she lacked the required experience. The FSA says: "She had no knowledge of the financial services industry, she was not aware of the purpose of the authorisation application submitted in her name, and she had very little involvement in the ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
