FCA bans chartered surveyors
The FCA has announced that it has stripped chartered surveyor firm Castle Wildish of its permissions due to conduct failures.
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The regulator said that it was not satisfied that Castle Wildish managed its business in such a way as to ensure that its affairs are conducted in a 'sound and prudent manner' and that it was not led by a 'fit and proper person'.
The FCA took action after the firm failed to comply with the regulatory requirement to submit its Retail Mediation Activities Return for the period ended 31 March 2014, which was due to be submitted by 15 May 2014.
It had also 'not been open and co-operative' in all its dealings with the FCA, in that it failed to respond adequately to the authority's repeated requests for it to submit the RMAR.
The FCA said:
"[It] has thereby failed to comply with Principle 11 of the Authority's Principles for Businesses and to satisfy the Authority that it is ready, willing and organised to comply with the requirements and standards under the regulatory system."
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