FSA bans and fines mortgage broker £106k

The fine against Michael Lewis, trading as Lewis Partnership, comprises a £100,000 punitive element and a disgorgement of commission and fees of £6,499. In its final notice, the Financial Services Authority (FSA) said Lewis knowingly submitted mortgage applications in his own name and in clients’ names containing false and misleading information. It found Lewis submitted applications with inflated incomes, provided false employment details for his clients, and acquired, certified and provided a falsified payslip to a lender for a client in order to provide evidence of an inflated inco...