The FCA has published a guide to completing the application process to cancel a firm’s authorisation under Part 4A of the Financial Services and Markets Act 2000. The guide is designed to assist firms to complete an application to cancel all permissions and cease regulatory activity. The FCA states that the guide is not a checklist of what firms have to do and advises firms to check the 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 or outstanding complaints against the firm;
- the reasons for cancellation; and
- ensuring that client money is dealt with.
View FCA guide to completing applications to cancel firm’s authorisation, 20 November 2017