FSA bans broker for TCF 'incompetence'

Mukhtar Khan, trading as United Finance and Insurance Services (UFIS) was banned on what the regulator said were "competence and capability grounds". In June 2010 the FSA carried out a treating customers fairly (TCF) assessment at UFIS. During the assessment it became clear that Khan" lacked knowledge of the TCF principles and that no action had been taken to ensure all areas of the business were delivering fair outcomes for customers", the FSA said. Meanwhile, the regulator has fined Devon-based Mark Joseph Laurenti, director of Independent Mortgage Advisory Service Limited (IMAS)...