The UK Financial Conduct Authority (FCA) has cancelled the Part 4A permission of KBFS Financial Limited.
The firm was authorised by the FCA on 1 July 2019 and had a Part 4A permission to conduct the following regulated activities in relation to designated investment business:
- advising on investments (except on pension transfers and pension opt outs);
- advising on P2P agreements;
- advising pension transfers and pension opt outs;
- agreeing to carry on a regulated activity;
- arranging (bringing about) deals in investments; and
- making arrangements with a view to transactions in investments.
The Authority explains that it has taken this action because it considers that the firm is carrying on no regulated activity to which its Part 4A permission relates.
The cancellation takes effect on 9 February 2024. The effect of the cancellation is that the firm no longer has permission to carry on any regulated activities.
