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FSA fines former mortgage group directors for “serious” failings
Three former directors of mortgage broker Black and White Group (B&W) have been fined by the regulator for failures related to the sale of mortgages and payment protection insurance (PPI). The Financial Services Authority (FSA) has take action against chairman Christopher Ollerenshaw and chief executive Thomas Reeh. Despite challenging the FSA’s decisions in the Upper Tribunal, it was agreed that fines should be imposed on both directors, although this was reduced to £100,000 (£50,000 after financial hardship) for Ollerenshaw and £75,000 (£10,000 after financial hardship) for Reeh....Read more here: FSA fines former mortgage group directors for “serious†failingsYou must be logged in to post a comment.
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