FSA maintains silence on mortage enforcement targets

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The FSA has today confirmed it will not be releasing the names of three firms referred to enforcement proceedings following the regulator's first major review of ‘higher risk' smaller mortgage firms since M-Day last year.

The FSA is also refusing to identify whether they are intermediary or other types of “firms”. Such refusal is standard practice in such cases, the regulator says. According to a statement on the referrals to enforcement, they are based on cases of non-disclosure of adverse information during the authorisation process. Additionally, two firms are being issued with private supervisory warnings, while another firm has agreed to cease trading after failing to hold adequate qualifications to write mortgage business. Enforcement action comes after a review of 51 “firms”, looking at sales...

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