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  3. Point in time
    2016-07-17

SUP 6.5 Ending authorisation

SUP 6.5.1GRP

Under section 33(2) of the Act (Withdrawal of authorisation), if the appropriate regulator cancels a firm's Part 4A permission,1 and as a result there is no regulated activity for which the firm has permission, the regulator authorising that firm1 is required to give a direction withdrawing the firm's status as an authorised person.

111
SUP 6.5.2G

[deleted]1

1
  1. (1)
  2. (2)
  3. (3)
SUP 6.5.2AGRP

1If the FCA concludes that it should grant an FCA-authorised person's application for cancellation of permission and end its authorisation, the FCA will:

  1. (1)

    cancel the firm's Part 4A permission under section 55H(3) of the Act;

  2. (2)

    withdraw the firm's authorised status under section 33(2) of the Act by giving the firm a direction in writing; and

  3. (3)

    update the firm's entry in the Financial Services Register to show it has ceased to be authorised.