Mortgage adviser banned for withholding client files

Stephen Selby, who traded as Selby Associates, did not respond to repeated FSA requests between 16 September 2010 and 8 April 2011 for copies of client files, information regarding mortgage applications which had been declined or cancelled by a lender and other information, to allow the FSA to review his mortgage business. The FSA said his lack of cooperation showed he was not ready, willing and organised to comply with the requirements and standards under the regulatory system, meaning he had failed to comply with Principle 11 (Relations with regulators). It added: "Stephen Selby has...