FCA cancels Clever Safety Options permission to hold regulated actions

The UK Monetary Conduct Authority (FCA) has cancelled the Half 4A permission of Clever Safety Options JJH Ltd.

The cancellation takes impact on July 18, 2023. The impact of the cancellation is that the corporate not has permission to hold on any regulated actions.

Clever Safety Options was authorised by the Authority on 9 June 2020 and had Half 4A permission to conduct the next regulated actions:

  • arranging (bringing about) offers in investments;
  • making preparations with a view to transactions in investments;
  • agreeing to hold on a regulated exercise;
  • advising on investments (besides on pension transfers and pension decide outs);
  • advising on P2P agreements.

The corporate was required to submit the Returns to the Authority by the related due date. Nonetheless, it failed to take action.

The FCA due to this fact considers that IPSJL has failed to supply data to the Authority as is required by the Handbook, particularly the knowledge it’s required to supply within the Returns and the FDA.

The Authority concluded that the corporate is carrying on no regulated exercise to which its Half 4A permission relates. The FCA has due to this fact determined to cancel IPSJL’s Half 4A permission.

If the corporate is aggrieved by the choice to cancel its Half 4A permission, it might make an software for an annulment of the Authority’s determination underneath paragraph 4 of Schedule 6A to the Act.

IPSJL should submit a accomplished software for an annulment of the Authority’s determination to the Authority by 17 July 2024 and within the method specified by the Authority.