Sally Whitaker (trading as Rock Pool), John Metcalfe, Gorton Insurance Bureau, Capital Solutions (S&J) and BAJ Building Services can no longer advise clients after all receiving final notices from the regulator.
The notices state the firms, which advised on mortgages and insurance, failed to submit key regulatory reporting data to the FSA for the period to 31 December 2009.
“You have not been open and co-operative in all your dealings with the FSA, in that you have failed to respond to the FSA’s repeated requests for you to submit the RMAR,” the notices state.
Firms must report tariff data for fees and levies once a year, which appears on their GABRIEL schedule for the year-end.
This information is required for the regulator to calculate the fees payable by the firm in respect of the FSA, the Financial Ombudsman Service and the Financial Services Compensation Scheme.
The lapse means the firms have failed to comply with Principle 11 of the FSA’s Principles for Businesses, and to satisfy that they are ready, willing and organised to meet the regulator’s requirements and standards.
None of the firms were available for comment.
