Financial Conduct Authority—cancelling permission and requirements
Financial Conduct Authority—cancelling permission and requirements

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • Financial Conduct Authority—cancelling permission and requirements
  • Cancellation of permission
  • Cancellation at the request of an authorised person
  • Own-initiative powers
  • Requirements
  • Cancellation at the request of an authorised person
  • Own-initiative powers

Financial Conduct Authority—cancelling permission and requirements

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

Where authorised firms cease to carry out regulated activities, their Part 4A permission will be cancelled. The Financial Conduct Authority (FCA) can also use its own-initiative powers to cancel a permission in the certain circumstances. Where requirements have been placed on authorised firms these can also be cancelled, either at the request of authorised firms or where the FCA uses its own-initiative powers.

Cancellation of

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