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FSA cancels broker’s permission

The Financial Services Authority has cancelled the permission of Julian Paul Cheetham, trading as in Derbyshire.

The regulator says the broker failed to pay fees and levies of £1,137.17 owed to the FSA, despite repeated requests to do so.

In its final notice to Cheetham, the FSA says: “This failing, which is significant in the context of his suitability, leads the FSA to conclude that he is not conducting his business soundly and prudently and in compliance with proper standards and that he is not a fit and proper person.”

He was given a decision notice on April 19 but as he did not appeal it, the FSA has cancelled his Part IV permission for failing to satisfy threshold conditions.



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