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British Steel adviser applies to cancel all regulatory permissions

Record-Keeping-Insurance-Paperwork-Form-Contract-700x450.jpgOne of the advisers involved in the British Steel saga has applied to the FCA to cancel all of its regulatory permissions.

A note on the FCA Register shows Retirement & Pension Planning Services, based in Barnsley, applied to cancel its authorisation on 22 May.

FCA rules state a firm must stop carrying out regulated activities or plan to stop them within six months of applying to cancel authorisation.

A firm should also have paid all outstanding regulatory fees, filed any regulatory returns that are due and resolved any complaints against it.

Retirement & Pension Planning Services agreed to stop doing transfer work with the regulator in December 2017.

It is one of 10 firms that stopped transfer work on British Steel in agreement with the FCA.

The others are: Vintage Investment Services, West Wales Financial Services, Active Wealth, which has gone into liquidation, Pembrokeshire Mortgage Centre, Mansion Park, Bartholomew Hawkins, Inspirational Financial Management, County Capital Wealth Management and Acklam Financial.

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There are 2 comments at the moment, we would love to hear your opinion too.

  1. Julian Stevens 7th June 2018 at 10:33 am

    Unless its principals plan to phoenix into another regulated entity, one wonders why they don’t just not pay their next round of regulatory levies and wait for the FCA to cancel all their permissions. It seems highly likely that, as a Ltd Co, their plan is simply to shut it down and dump all and any future liabilities onto the rest of us by way of the FSCS.

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