The Financial Conduct Authority (FCA) has fined and banned a mortgage broker for failing to prevent false client information being submitted to lenders.
Former City & Provincial (C&P) sole trader and principal Zaffar Hassan Tanweer has been banned from carrying out any regulated activity in the future and fined £1,100. C&P offered non-advised mortgage broking services to retail clients until December 2011 when it ceased trading. Were it not for its financial position, the FCA would have fined the firm £68,600, it said. Between 21 September 2009 and 21 June 2011 C&P allowed mortgage applications to be processed which contained false and misleading information about the clients' employment details and income, the FCA said. Tanweer hi...
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