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FSA cancels mortgage broker’s permission for unpaid fees

The Financial Services Authority has cancelled the permission of Choon Hee Patrick Tan, trading as Mortgages Mortgages.

Tan failed to pay regulatory fees and levies owed to the FSA of £1,787.64, despite repeated FSA requests to do so.

The FSA says this failing has led it to conclude that Tan is not running his business soundly and prudently and in compliance with proper standards and that he is not a fit and proper person and therefore he is failing to satisfy the threshold conditions in relation to the regulated activities for which he had Part IV permission.

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