SUP 6.5 Ending authorisation

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

If the FSA concludes that it should grant a firm's application for cancellation of permission and end its authorisation, the FSA will:

1. (1)

   cancel the firm's Part IV permission under section 44(2) 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 FSA register to show it has ceased to be authorised.