The firm, White Rose Mortgages of Coeside, York YO24 2XB, was found guilty of two charges that were considered by an independent disciplinary committee in October 2002. The disciplinary committee ordered that the firm be suspended from the MCCB register, and allow the MCCB access to its files in accordance with MCCB Registration Rules, in an open and co-operative manner, during the period of the suspension. The firm was also ordered to pay costs of £5,000.
The firm exercised its right of appeal and the Disciplinary Appeal Committee heard the appeal on 12 March 2003. The Appeal Committee dismissed the appeal and exercised its power to impose new sanctions. The firm was ordered to allow the MCCB access to undertake a compliance inspection and to pay costs totalling £11,200 (including the earlier costs award) within specified timescales. The Appeal Committee ordered that if the firm failed to comply with either of these directions, its MCCB registration would be cancelled. The firm has failed to comply with both directions and its registration has accordingly been cancelled.
