FSA cancels permission of London broker

FSA cancels permission of London broker


The FSA has cancelled the permission of financial adviser, Joy Obika Sydney, trading as Joy Sydney Finance. 

Ms Sydney owes the regulator £1,094.17 in unpaid fees and levies and according to the FSA, failed to comply with repeated requests to provide information relating to her standards of compliance with FSA rules and Principles for Businesses.


The FSA concluded that Ms Sydney was failing to conduct her business “soundly and prudently” and that the failures were “significant in the context of her suitability.”


Last week, the FSA banned a South London mortgage broker and fined him £100,000 for his knowing involvement in the submission of false mortgage applications.


Abiola Agbalaya was the sole controller of Herald Finance Ltd and was found to have obtained several mortgages after submitting applications that notably overstated his income and his firm’s profits.  

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