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900 FSA authorisations in last financial year

During the last financial year the FSA has authorised 900 firms and approved 48,109 individuals.

In the last financial year, the FSA formally refused three corporate applications and formally warned another 10 firms that they were minded to refuse their applications: a further 79 applications were withdrawn, often as a result of FSA enquiries.

In most cases the problem was inadequate financial resources. In other cases, the FSA suspected involvement with financial crime, or were concerned about group structures which were complex or difficult to supervise.

During the year, the FSA formally refused nine individual applications and formally warned another 21 individuals that they were minded to refuse their applications. A further 39 individual applications were withdrawn by the sponsoring firm after the FSA had classified them as non-routine. Most concerns were about the individuals&#39 honesty, integrity and reputation.


Alexander Hall triumphant

The inaugural event saw TMW take on eight of London&#39s top brokerages and Mortgage Strategy in a series of matches. In the runners-up match Savills Private Finance faced The Mortgage Works. That game resulted in a 2-2 draw but TMW went on to win on penalties. Overall man of the tournament, chosen by the referees, […]

Homeowners could save over £7bn on MPPI, says Goodfellows

The full accident, sickness and unemployment package costs £3.95 per £100 of monthly benefit. One of the key features of the cover is the three months&#39 free cover to all policy holders. Simon Burgess, managing director of Goodfellows, says: “Mortgage borrowers should not feel obliged to take out their lender&#39s mortgage protection cover. By spending […]

GMAC-CM Europe announces promotions and appointments

GMAC-CM Europe last week announced a host of UK promotions and appointments. Kevin Cooper is promoted to managing director of real estate finance, Martin Wheeler becomes executive director of real estate finance and Gerry Mackenzie joins as director of real estate finance. James A Dalton, president of European operations for GMAC-CM Europe, says: “The promotion […]

Oxygen Home Loans launches into branded lending market

A branded lender has announced its launch into the UK mortgage market in partnership with Mortgages PLC. Oxygen Home Loans is a new trading division of the Leicester-based Oxygen Mortgage Group (formerly Custom Made Mortgages). Oxygen Home Loans products will be focussed on specialist product areas such as sub-prime and self-certification. Building on the relationships […]


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