The FSA has issued yet another final notice, this time to an IFA who failed to pay fees and levies totalling in excess of £1,000.
Birmingham-based IFA Resham Chand, who trades as First Call, has now been banned from carrying on regulated activities.
After 'repeated requests' to pay £1,074.70 in FSA fees, Mr Chand was issued with the final notice on May 12 2011. Since he failed to refer the matter to the Upper Tribunal, his part IV permission has been cancelled.
The FSA commented that Mr Chands's failure to pay the fees had led it to 'conclude that (Mr Chand) is not conducting his business soundly and prudently and in compliance with proper standards and that he is not a fit and proper person'.
This final notice issuance proves the FSA's continuing determination to crackdown on those who fail to pay their fees altogether, or do so in an untimely fashion. The regulator has already seen an increase in those submitting forms and fees on times, from 90 per cent to 94 per cent over the past two years.
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