The UK Financial Conduct Authority (FCA) has taken action
against Apex Legal Limited by canceling its Part 4A permission, effective
January 5, 2024.
According to a notice published by the regulator, this
decision arrives as a response to the firm’s absence in conducting regulated
activities associated with its granted permissions.
The FCA’s decision to cancel Apex’s approval,
initially authorized in 2016, marks a critical regulatory move impacting the
firm’s scope of operations.
The permission granted to the firm encompassed a
spectrum of regulated activities, including arranging deals in investments,
dealing as an agent, and assisting in insurance contract administration.
The driving force behind the FCA’s action lies in
its determination that Apex Legal Limited was not actively engaging in any of
the regulated activities outlined under its Part 4A permissions.
The authority, through successive notices, alerted
the firm about its observations and intentions to cancel the permissions
granted. Effective immediately, Apex Legal Limited loses its regulatory
clearance to carry out any regulated activities.
Expect ongoing updates as this story evolves.
The UK Financial Conduct Authority (FCA) has taken action
against Apex Legal Limited by canceling its Part 4A permission, effective
January 5, 2024.
According to a notice published by the regulator, this
decision arrives as a response to the firm’s absence in conducting regulated
activities associated with its granted permissions.
The FCA’s decision to cancel Apex’s approval,
initially authorized in 2016, marks a critical regulatory move impacting the
firm’s scope of operations.
The permission granted to the firm encompassed a
spectrum of regulated activities, including arranging deals in investments,
dealing as an agent, and assisting in insurance contract administration.
The driving force behind the FCA’s action lies in
its determination that Apex Legal Limited was not actively engaging in any of
the regulated activities outlined under its Part 4A permissions.
The authority, through successive notices, alerted
the firm about its observations and intentions to cancel the permissions
granted. Effective immediately, Apex Legal Limited loses its regulatory
clearance to carry out any regulated activities.
Expect ongoing updates as this story evolves.