National IFA firm Clarkson Hill is no longer able to conduct any regulated activities.
In a statement to the stock market this morning, the firm says as a result of a variation in its regulatory permissions it has been unable to undertake regulated activities since 5pm December 3.
Clarkson Hill says it is looking at a number of options including selling the firm and is continuing discussions with the FSA.
Last month, the Cambridgeshire-based firm had its shares suspended for the second time this year pending clarification of the company’s regulatory position.
In October it announced it was in take-over talks after it emerged over the summer that a £558,000 loan to the company from director Ron Pritchard and managing director Mike Robinson was not approved as being enough to boost its capital sufficiently.
In July the firm revealed it was subject to a regulatory review of its systems and controls during the second half of last year, as it posted pre-tax losses of £636,699 for 2009.