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FSA bans three mortgage brokers
The Financial Services Authority (FSA) has banned and fined three mortgage brokers in Sheffield and Manchester for committing fraudulent activity. On top of the ban, the financial watchdog fined Mark Bates and Alan Hill of Pace Financial Management £414,683. Meanwhile, Waqarul Hassan Shah of KS Financial Services in Manchester was also banned by the FSA for “knowingly submitting false income figures”.