FCA cancels broker's permissions over missing RMAR

Failure deemed 'significant'

Carmen Reichman
clock • 2 min read

The Financial Conduct Authority (FCA) has cancelled a mortgage broker's permissions after he failed to submit his Retail Mediation Activities Return (RMAR).

The regulator deemed Francis Birchall, who was trading as Dual Mortgage Brokers, was not a "fit and proper person" to carry out regulated activities when he ignored the regulator's repeated requests for his RMAR, which was due last November. The FCA had warned Birchall about its impending action in a notice in April and a subsequent decision notice. It added he had not been open or co-operative in all its dealings with the regulator. It was therefore not convinced the broker managed his business in a sound and prudent manner. RMARs are detailed reports on the business advisers have...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Regulatory and employment-related changes – what do firms need to prepare for?

Regulatory and employment-related changes – what do firms need to prepare for?

‘Getting these issues right is not just about avoiding regulatory action or tribunal claims’

Sophie White
clock 21 August 2025 • 4 min read
FOS fees could fall if cases resolved early

FOS fees could fall if cases resolved early

Consultation seeking to modernise charges

Jenna Brown
clock 13 August 2025 • 2 min read
Consumer Duty two years on: Challenges remain for advisers

Consumer Duty two years on: Challenges remain for advisers

‘Biggest challenge for advisers at the moment'

Sahar Nazir
clock 31 July 2025 • 4 min read