A Cheshire-based mortgage broker has appealed against the Office of Fair Trading's decision to revoke his consumer credit licence application.
Dominic Andrew Bardsley had his application revoked on August 8, but has appealed against the decision. His file has been referred to OFT head office and until the appeal is heard, his licence will be valid.
This coincides with the FSA's decision to conduct a review of its own enforcement process to see if this can be shortened.
Speaking at the FSA's Enforcement and Law conference in London, Andrew Procter, director of enforcement, told delegates: “This review will examine the decision making process. This process is a long one – it can take five months or more to move from the end of an investigation to a decision notice.”