Broker loses bid to appeal FCA ban
Former mortgage broker Ghanshyam Batra has lost his bid to appeal against an Upper Tribunal ruling made in May 2014.
Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in C:\inetpub\wwwroot\2025.financialreporter.co.uk\htdocs\templates\front-end\partials\article_blockquote.php on line 2
The ruling upheld the FCA's decision to ban him from working in the market, and argued that he “lacked integrity” after submitting mortgage applications containing inaccurate information to two lenders.
Although the FCA could not establish that Mr Batra had been “deliberately dishonest”, the Upper Tribunal agreed that he had not been open and co-operative with the regulator, and had either knowingly or recklessly gave the FCA incorrect information during interviews.
Mr Batra has now been given a final notice, and was prohibited from working in the market from 17 July.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Lloyds
Lloyds Banking Group launches £5,000 deposit mortgage
Mortgage Rates
Barclays relaunches sub-4% mortgage rate
FCA
FCA bans and fines director £755,000 for advice and insurance failures
Bank Of England
Bank of England holds interest rates at 3.75% in 8-1 vote
Mortgages
Mortgage affordability at tightest level since 2008: UK Finance
Nationwide
Nationwide cuts mortgage rates by up to 0.36%
