FSA cancels firm's permissions
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The Financial Services Authority has cancelled the permissions of Birmingham based brokerage Solomon Lloyd for failing to pay fees of £1,491.68 to the regulator.
The FSA has issued the firm with a final notice and cancelled its permissions to carry out regulated activities.
It failed to pay fees and levies of £1,491.68 despite repeated requests by the regulator to do so.
In its final notice, the FSA, says: “This failing, which is significant in the context of Solomon’s suitability, leads the FSA to conclude that Solomon is not conducting its business soundly and prudently and in compliance with proper standards and that Solomon is not a fit and proper person and that it is therefore failing to satisfy the Threshold Conditions in relation to the regulated activities for which Solomon had a Part IV permission.”
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