FSA has fined and banned Newcastle Home Loans and five individuals. It had fined the firm £170,000 in February for allowing David Purdie to act as its CEO without approval and for submitting false mortgage applications. It prohibited Mr Purdie and directors Linda Patterson in February and Grace Purdie in June, for acting without honesty and integrity in submitting mortgage applications. It also fined Grace Purdie £85,000 for failure to comply with parts of APER. It has now found the firm does not satisfy the threshold conditions because it has inadequate human resources. It also fails the suitability test. FSA also banned Michael Foster and Kenneth Robinson for making introductions and submitting applications to the firm, knowing they contained false information. The two individuals cannot perform any function for any authorised or exempt person or any exempt professional firm. Separately, FSA banned Stephen Sandars, a mortgage broker based in Cornwall, for submitting applications he knew contained false information.