SUP 6.5 Ending authorisation

Under section 33(2) of the Act (Withdrawal of authorisation), if the appropriate regulator cancels a firm's Part 4A permission, and as a result there is no regulated activity for which the firm has permission, the regulator authorising that firm is required to give a direction withdrawing the firm's status as an authorised person.

If the FCA concludes that it should grant an FCA-authorised person's application for cancellation of permission and end its authorisation, the FCA will:

1. (1)

   cancel the firm's Part 4A permission under section 55H(3) of the Act;

2. (2)

   withdraw the firm's authorised status under section 33(2) of the Act by giving the firm a direction in writing; and

3. (3)

   update the firm's entry in the Financial Services Register to show it has ceased to be authorised.