The Office of Fair Trading (OFT) has revoked the consumer credit licence of Market Drayton-based trader Neil John Taylor, who trades as Direct Motorhomes 2 U and Neil Taylor Motorhomes.
The credit regulator revoked Taylor’s licence because he failed to declare important information when he applied for, and obtained, a consumer credit licence. He did not disclose his connections with a business associate who had a number of convictions, including for assault and false imprisonment. Taylor was subsequently convicted of having engaged in unlicensed trading prior to applying for a licence.
Following prosecution by Shropshire Trading Standards, on the 15 December 2006, Taylor was convicted of six offences of engaging in credit brokerage when unlicensed, contrary to section 39(1) of the Consumer Credit Act, for which he received a fine.
This disregard for both the law and the licensing rules resulted in the OFT finding Taylor unfit to retain a consumer credit licence. The revocation means that Taylor can no longer trade as a credit broker.
Ray Watson, director of the OFT’s Consumer Credit Group, said: “Engaging in unlicensed trading and failing to disclose relevant information are matters that the OFT takes very seriously. The integrity of traders who hold consumer credit licences and their respect for the law are fundamental to the protection of consumers’ interests.”””