The Financial Conduct Authority (FCA) has imposed restrictions on IFA Gainsborough Financial Services (GFS) for failing to provide information and pay periodic fees and levies owed.
In a decision notice published yesterday (13 September), the regulator revoked the Leeds-based advice firm's 4A permission, which means it no longer has permission to carry out any regulated activities. The firm was authorised by the FCA in December 2001 and had a 4A permission to advise on: investments (except on pension transfers and pension opt outs); mortgage contracts; pension transfers and pension opt outs; and P2P agreements. However, GFS failed to provide information to the FCA required by the handbook, in particular the information it is required to provide in the returns and...
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