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Ex-mortgage broker loses bid to appeal FCA ban

A former mortgage broker has lost his bid to appeal against a ban on working in the market because of “integrity breaches”.

The Court of Appeal has refused an application by Ghanshyam Batra to appeal a May 2014 Upper Tribunal ruling, which upheld the FCA’s decision to ban the broker.

In May last year, the Upper Tribunal found that Batra, the former director of Mortgage 10, lacked integrity after he submitted a number of applications containing inaccurate information to two lenders.

It found Batra had been “reckless” with the truth of statements he had made to the lenders and had failed to be open and co-operative with the lenders on another point.

However, the Upper Tribunal held that the FCA had not established that Batra had been deliberately dishonest, but did find he was not open and co-operative with the FCA. 

It also found he either knowingly or recklessly gave the regulator incorrect information when interviewed.

Batra has therefore lost his right to appeal the ban and the FCA has given him a final notice.

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