FCA cancels unused permissions

The FCA has used its power to cancel consumer credit permissions which were not used for 2 years. Mr Roche was authorised by the FCA in January 2015 and held consumer credit permissions of:

  • agreeing to carry on a regulated activity;
  • credit broking;
  • debt adjusting; and
  • debt-counselling.

The regulatory returns Mr Roche submitted showed that he had not generated any income from these activities for the period 1 April 2021 to 31 March 2023.

The FCA sent notices to Mr Roche in July and August 2023 but he failed to respond in the manner specified in the directions to the notice. The FCA therefore decided to cancel the permissions. Mr Roche has until 28 August 2024 to apply for an annulment of the FCA’s decision.

Lucy Hadrill