The Financial Conduct Authority (the “FCA”) has published a guide to completing the application to cancel a firm’s authorisation under Part 4A of the Financial Services and Markets Act 2000 (FSMA).
The guide is designed to assist firms to cancel all permissions and cease regulatory activity. The FCA advises to check the relevant sections of the handbook that are relevant to their business model before completing the cancellation form. When cancelling authorisation, matters firms must consider include:
- Whether the firm’s fees are paid up to date;
- Whether there are any unresolved, unsatisfied or discharged complaints against the firm that have not been fully dealt with;
- The reasons for cancellation; and
- Ensuring that client money is dealt with
Access the FCA’s guide