FCA places temporary suspension on London firm with no assets

Kingsbridge Capital under scrutiny from the FCA over membership fees

Sahar Nazir
clock • 1 min read

The Financial Conduct Authority (FCA) has temporarily halted regulated business at Kingsbridge Capital Advisors (KCA) following allegations that the firm failed to pay membership fees.

The London-based adviser has appealed the decision to the Upper Tribunal, which will decide whether the suspension will go ahead. In a decision notice released yesterday (April 27), the FCA claimed that KCA has failed to pay membership on many occasions since 2019. KCA reportedly owes a total of £2,691.42 to the regulator. The FCA has provisionally cancelled KCA's part 4A permissions which cover its ability to carry on regulated activities. The decision notice dates from November but has only now been published. The regulator said in its statement: "KCA has failed to respond ade...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA catches firm offering compensation of £50 to BSPS victims

FCA catches firm offering compensation of £50 to BSPS victims

Regulator has come down hard on Welsh advisory firm David Stock & Co

Hope William-Smith
clock 22 May 2023 • 1 min read
Former London Capital & Finance CEO receives ten month sentence

Former London Capital & Finance CEO receives ten month sentence

Serious Fraud Office releases statement about Michael Thomson

Hope William-Smith
clock 17 May 2023 • 1 min read
FSCS investigates London firm Pello Capital after liquidation

FSCS investigates London firm Pello Capital after liquidation

The wealth manager was authorised by the FCA between 2007 and 2022

Hope William-Smith
clock 10 May 2023 • 1 min read