FSA ACTION: Trinity Network Services Limited

The FSA removed the approval of London-based mortgage broker Olayinka Oladipupo for not being fit and proper to run an authorized firm.  The permission of Trinity Network Services Limited. Trinity, where Oladipupo was sole principal and controller, has also been cancelled. Trinity Network Services Limited was authorized by the FSA to advise on and sell regulated mortgage contracts.

The FSA concluded that “by failing to attend the Interview or comply with the Information Request, and in failing to respond to FSA communications relating to those matters, [Oladipupo]is in breach of Statement of Principle 4 for Approved Persons. Mr Oladipupo has therefore failed to satisfy the FSA that he is fit and proper to perform the controlled functions for which he is approved in relation to Trinity or to be the controller of Trinity.”

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