bedmond-motor-centre-ltd-2025.pdf

Here are the key points summarized:

Cancellation of Part 4A Permission

• The Financial Conduct Authority (FCA) has cancelled the Part 4A permission of an authorized firm.
• The reason for cancellation is that the firm appears not to be carrying on any regulated activities to which its permission relates.

Grounds for Cancellation

• Failure to pay a periodic fee or levy
• Failure to provide information required by the Handbook

Procedure for Cancellation

• The FCA served two notices under Schedule 6A of the Act, and the firm did not respond or take other steps as directed.
• The second notice specified the effective date of the proposed cancellation.

No Right of Referral to the Tribunal

• The authorized firm has no right of referral to the Tribunal in respect of the FCA exercising its additional own-initiative variation power under Schedule 6A to the Act.