Andrew Talai Kiplimo, an introducer from Ilford, has been prohibited from carrying out any financial services activities which would require FSA authorisation, after he was found to be submitting highly fraudulent business.
This is the first time the regulator has taken decisive action to ban an individual working in such a role - one which does not require FSA approval - in its bid to tackle widespread mortgage fraud.
Kiplimo, who refused to comply with the FSA over the matter, was inflating clients' income on applications alongside the submission of false employment details, accounts and tax calculations.
He also continued to submit business to one lender after it had specifically instructed him not to on the grounds that it would no longer be accepted.
Jonathan Phelan, head of retail enforcement at the FSA, warned: "We will not hesitate to take similar action against any individuals, and report them to other authorities as appropriate, who are found to be knowingly involved in the submission of false mortgage applications.
"The severity of the risk Kiplimo posed to lenders and to confidence in the financial markets makes it necessary for the FSA to exercise its power to make a prohibition order."
