Adviser permissions cancelled for failing to pay FSCS levy

Kenwood Associates Ltd, based in Staveley, Chesterfield, failed to pay the charge of £1,017.20 owed to the FSA, despite repeated requests that it do so. The company was first issued a warning notice in February followed by a decision notice six weeks later. According to the FSA, Kenwood's failure to pay the levy was significant in the context of the adviser's "suitability". "[Kenwood's failure] leads the FSA to conclude Kenwood is not conducting its business soundly and prudently and in compliance with proper standards and that Kenwood is not a fit and proper person," the regulator...