FCA cancels permission of Cypriot agency Felicitas Administration Funding Companies

The UK Monetary Conduct Authority (FCA) has printed a discover cancelling the Half 4A permission of Cyprus-based agency Felicitas Administration Funding Companies.

The FCA explains that it issued to Felicitas a choice discover, which notified it that pursuant to part 55J of the Act and Regulation 8(5)(a) of the EEA Passport Rights (Modification, and so on., and Transitional Provisions) (EU Exit) Rules 2018, the Authority had determined to cancel Felicitas’ Half 4A permission.

Felicitas has not referred the matter to the Tribunal inside 28 days of the date on which the Determination Discover was given to Felicitas.

Accordingly, the Authority right this moment cancelled Felicitas’ Half 4A permission.

The FCA notes that, on 12 April 2021, CySEC withdrew Felicitas’ authorisation on the grounds of Felicitas’ failure to adjust to related legal guidelines and rules pertaining to circumstances of registration as an funding agency in Cyprus.

In mild of those issues, the Authority considers it’s fascinating to cancel Felicitas’ Half 4A permission as a way to defend and improve the integrity of the UK monetary system.



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