FSA cancels Omagis Capital's permissions

The London-based investment adviser, which was stopped from conducting regulated business by the FSA in February, breached FSA rules by failing to: pay a skilled person to conduct a section 166 skilled person report leading to the skilled person's review not being undertaken; and provide information to the FSA despite repeated requests to do so, and respond substantively to communications from the regulator. The FSA said these actions meant Omagis was in breach of Principle 11 of its Principles for Businesses and failed to satisfy the FSA's Threshold Conditions. Omagis offers ...