FCA cancels permission of Master FinCapital

The UK Financial Conduct Authority (FCA) has published a final notice as to Master FinCapital Limited.

The regulator has decided to cancel the firm’s Part 4A permission. Part 4A permission means the permission granted by the Authority to Master FinCapital Limited pursuant to Part 4A of the Act.

The regulator explains that its decision is based on findings that Master FinCapital Limited has not conducted any regulated activity since 1 January 2019.

The Authority requested that the firm voluntarily cancel its Part 4A permission. However, Master FinCapital Limited has declined to do so.

The FCA notes that it is authorised by section 55J(1)(b) of the Act to cancel an authorised person’s permission where such a person has failed, during a period of at least 12 months, to conduct any regulated activity for which it has had Part 4A permission.

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