A mortgage and protection advice firm has had its permissions to operate cancelled by the Financial Conduct Authority (FCA) after failing to pay more than £3,500 of fees from 2019.
The regulator cancelled Mortgage, Protection & Finance Ltd’s permissions this month after issuing two warnings earlier this year which it did not reply to and concluded the firm was no longer conducting regulated business.
The FCA noted that in particular, “the firm has failed to pay an invoice dated 30 July 2019 for periodic fees and levies of £3,548.45 which had been due for payment by 29 August 2019.”
It also did not submit required returns to the regulator and its Firm Details Attestation (FDA) data.
Mortgage, Protection & Finance Ltd was based in Swindon, Wiltshire.
According to Companies House records its latest accounts and confirmation statement are more than three years overdue.
Its website is also no longer active.
The firm had permissions to conduct regulated activities in relation to consumer credit business, home finance, insurance distribution and designated investment business.
On 19 March the FCA gave the firm notice which stated that it appears the firm is not carrying on regulated activity to which its permissions relate.
After no response was received the FCA repeated its notice on 5 June threatening to remove its permissions from 1 July.
Having again failed to respond the FCA said it considers the firm is carrying on no regulated activity to which its Part 4A permission relates and it has therefore decided to cancel the firm’s permission.