In the past week, FSA has:

  • fined a mortgage firm £840,000 for irresponsible mortgage lending (it could not show how customers whose mortgages would continue into retirement could afford to pay) and unfair treatment of customers in arrears. This is FSA's first fine for irresponsible lending;
  • emoved the permission from two businesses that did not submit their Retail Mediation Activities Returns; - cancelled the permission of a business that failed to pay fees and levies due; and
  • published a notice of requirements placed on a firm's permission in response to a request by the firm to allow it to operate an organised complaints handling programme.

 (Source: FSA/PN/025/2011, Final Notices and Requirements included in the firm's permission at the request of the firm under section 44 of the Financial Services and Markets Act 2000)