The regulator said that the firm was ‘not conducting its business soundly and prudently’ after it failed to submit its Retail Mediation Activities Return (RMAR) for the year to 30 June 2012.
The FSA said that the company had not been open and co-operative with its requests and has cancelled the permissions of the firm.
Green Money, which was based in Southampton, also operated using the trading name Go Remortgage.
The FSA final notice stated: “The FSA is not satisfied that Green Money Limited is a fit and proper person having regard to all the circumstances, including the need to ensure that its business is conducted soundly and prudently.
“Green Money Limited has not been open and co-operative in all its dealings with the FSA, in that it has failed to respond to the FSA’s repeated requests for it to submit the RMAR, and has thereby failed to comply with Principle 11 of the FSA’s Principles for Businesses and to satisfy the FSA that it is ready, willing and organised to comply with the requirements and standards under the regulatory system.
“Accordingly, the FSA has today cancelled Green Money Limited’s Part IV permission.”
Green Money has not referred the matter to the Upper Tribunal.
