FSA cancels permission of mortgage adviser
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The Financial Services Authority has cancelled the permission of Carol Lawson, trading as St Johns Mortgages, for failing to supply information to the regulator.
The FSA says Lawson failed to co-operate with the FSA and failed to respond adequately to repeated requests from the FSA for a copy of her full business register and client files to enable the FSA to review her general insurance business.
In its final notice, the FSA, says she has not been open and co-operative in dealing with the FSA by failing to respond adequately to the FSA’s repeated requests and provide information.
It says: “You have therefore failed to comply with Principle 11 (Relations with regulators) and satisfy the FSA that you are ready, willing and organised to comply with the requirements and standards under the regulatory system.
“You have also failed to satisfy the FSA that you are conducting your business soundly and prudently and in compliance with proper standards or that you are a fit and proper person having regard to all the circumstances.
“These failures are significant in the context of your suitability; and you are therefore failing to satisfy Threshold Condition (Suitability) in relation to the regulated activities for which you have Part IV permission.”
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