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Do you need to review or cancel your Part4A permissions? Acting now could see you save £'s

09 February 2024

If your firm is planning to cancel its Part 4A permissions now is the perfect time to start preparing for the process.

The FCA don't charge any fees for dealing with the cancellation but it's important to remember that the annual FCA fees are calculated and payable for the financial year, unless the cancellation of permissions application is submitted prior to 31 March.  If you're also regulated by the PRA, the application should be submitted by the end of February.

If the business continues to operate for a further 3 months after the March deadline, the full annual fee will be payable.

If you would like to meet these deadlines, it's important to make sure your application is prepared to a good standard, with all required closure actions completed, and the application submitted in good time.

Alternatively, you may wish to consider whether the permissions you currently have in place are still required – with the FCA's ongoing focus on unused permissions ("use it or lose it"), now could be a good time to start reviewing and tidying up.

Contact the DWF Regulatory Consulting team if you would like any assistance with your application or supporting documents – we can tailor our support to suit your needs. 

Further Reading