Home > Regulation > Regulators
FSA sounds Mortgage Times' death knell
The Mortgage Times Group was found to have a shortfall of nearly £1m in its regulatory capital requirements by the FSA, it has been revealed.
.jpg)
In the meantime, directors of Mortgage Times, Paul Carmody and Chris May, appear to have set up a new company at the same London address as Mortgage Times.
According to the website for Carmody & May, the new business is a financial planning and asset management firm offering property finance, risk planning and business development services.
Mortgage Times became authorised by the FSA on 31 October 2004 to carry out regulated mortgage business.
It subsequently extended its permission on 14 January 2005 to include insurance mediation business.
On 6 April 2007 it was granted permission for home finance business in relation to home reversion plans and on 16 April 2008 to include advising on and arranging designated investment business.