The FSA has removed the approval of mortgage broker Olayinka Oladipupo, who was based in London, for not being fit and proper to run an authorised firm.
The regulator also cancelled the permissions of Trinity Network Services Limited (Trinity), where Oladipupo was sole principal and controller.
In November and December 2008, during an FSA investigation into his conduct, Oladipupo failed to attend a compulsory interview and provide the FSA with requested documents and information. Because of this failure to deal with the regulator in an open and co-operative way, the FSA deemed that Oladipupo was not fit and proper to hold a regulated position, and therefore removed his approval.
Trinity’s permission was cancelled for not having competent and prudent management – as a result of Oladipupo’s approval being withdrawn – for having an unfit controller in Oladipupo and for failing to maintain an open relationship with the regulator.
Tom Spender, FSA head of retail enforcement, said: “Approved persons and authorised firms must deal with the FSA in an open and co-operative way. Failure to comply with a request for information or to attend an FSA interview is unacceptable