FSA turns a blind eye to network directors' actions
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With the news that two directors at The Mortgage Times Group are setting up a firm, it amazes me that these guys can just walk away from their existing directors commitments and start another business with no questions asked.
I wonder how the former appointed representatives and staff from Mortgage Times, who are no doubt owed substantial money, feel about that?
The Financial Services Authority appears to be focussing on brokers committing fraud and just turning a blind eye to this.
DEEPAL AHANGAMA
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Readers' comments (1)
Lee | 25 Jan 2010 11:37 pm
Let's be honest given the FSA's recent track record. One wonders how it can possible continue as this country's financial regulator? It's failings to sufficently regulate the banking sector have susequently been compounded by the colapse last year of a number of Mortgage Networks mine encluded. At best they have conducted themselves in complete and utter ignorance of this countrys financial meltdown. At worst their actions or lack of have been nothing short of incompetent. Much is made of treating customers fairly..! What about treating AR's fairly..? The FSA should bow their heads in shame for not recognising the problems sooner. Let's all hope we see a Conservative goverment win the next General Election so this bloated and useless waste of space is laid to rest once and for all...!
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