The UK Financial Conduct Authority (FCA) has cancelled the Part 4A permission of Intelligent Protection Solutions JJH Ltd.
The cancellation takes effect on July 18, 2023. The effect of the cancellation is that the company no longer has permission to carry on any regulated activities.
Intelligent Protection Solutions was authorised by the Authority on 9 June 2020 and had Part 4A permission to conduct the following regulated activities:
- arranging (bringing about) deals in investments;
- making arrangements with a view to transactions in investments;
- agreeing to carry on a regulated activity;
- advising on investments (except on pension transfers and pension opt outs);
- advising on P2P agreements.
The company was required to submit the Returns to the Authority by the relevant due date. However, it failed to do so.
The FCA therefore considers that IPSJL has failed to provide information to the Authority as is required by the Handbook, namely the information it is required to provide in the Returns and the FDA.
The Authority concluded that the company is carrying on no regulated activity to which its Part 4A permission relates. The FCA has therefore decided to cancel IPSJL’s Part 4A permission.
If the company is aggrieved by the decision to cancel its Part 4A permission, it may make an application for an annulment of the Authority’s decision under paragraph 4 of Schedule 6A to the Act.
IPSJL must submit a completed application for an annulment of the Authority’s decision to the Authority by 17 July 2024 and in the manner specified by the Authority.
