Trio of firms lose permissions for failing to pay FSA fees

Edinburgh-based Concept Solutions failed to pay its 2009/10 regulatory fee of £1,002.33, Surrey Mortgages did not meet its £1,347.15 charge, and Liverpool-based MercInvest Ltd failed to come up with £1,792.32. All three firms are now barred from carrying out regulated activities. The FSA says the "significant" failure to pay on the part of each firm forced it to conclude they were not conducting their businesses "soundly", "prudently" and "in compliance with proper standards". Principal advisers Paul Maclean at Concept and Stephen Ellison at Surrey Mortgages have been labelled "not...