The Financial Services Authority (FSA) has imposed a ban on Anthony Abiona, claiming he misled the regulator and customers through his company Renbe Associates.
Jonathan Phelan, head of retail enforcement at the FSA, warned firms operating within the industry that the regulator will not tolerate the knowing submission of false or misleading information and vowed to move against anybody behaving in such a fashion.
“Anthony Abiona provided misleading information to the lenders and it appears he also misled the FSA as well and lacks the honesty and integrity we require of all regulated firms and individuals,” says Jonathan Phelan, referring specifically to the Renbe Associates case.
Among the offences Abiona was accused of were failure to protect confidential data regarding customers and submitting mortgage applications to lenders in the knowledge that they contained false or misleading information.
At the start of the month, the FSA also banned mortgage adviser Mohammed Ahmed of Wakefield for making mortgage applications backed up by falsified payslips.
D.C.