FSA bans adviser for paperwork failure

McFadden did not submit her retail mediation activities return (RMAR) for the period ended 4 April 2011 after repeated requests from the regulator. This failure means McFadden has not complied with principle 11 of the FSA's Principles for Business, which requires firms to deal with regulators in an "open and cooperative" manner. "The FSA is not satisfied [McFadden] is a fit and proper person having regard to all the circumstances, including the need to ensure that her business is conducted soundly and prudently," the FSA said in a statement.