FCA has published a decision notice noting its decision to ban Markos Markou, director and CEO of a mortgage broker, and to fine him £25,000. FCA considers Mr Markou not fit and proper to perform his senior management functions. It said he did not properly oversee the firm’s mortgage business between 2015-207, despite being fully aware of the risks after two earlier FCA interventions. He also allowed the firm to transact mortgage business for some months in the knowledge it did not have valid PII.
Mr Markou is appealing the decision, but FCA has published the decision notice in any event.