The FSA has fined Fastmoney - a non-advised mortgage and bridging loan contract arranger - £28,000 for failing to ensure that customers were treated fairly.
The FSA has also banned its owner and director, Simon Latham, and former chief executive, Stuart Mason, from performing significant influence functions in the future. Latham has been fined £17,500. Fastmoney arranged regulated mortgage contracts, including regulated bridging loans, on a non-advised basis for retail customers. Between August 2005 and March 2010, Fastmoney arranged 370 regulated mortgage contracts and 18 regulated bridging loans for customers. The FSA found deficiencies in Fastmoney's non-advised sales process that the regulator said put its customers at risk of t...
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