The UK Financial Conduct Authority (FCA) has published a notice canceling the Part 4A license of Cyprus-based company Felicitas Management Investment Services.
The FCA explains that it issued a decision notice to Felicitas, informing it that under section 55J of the Act and Regulation 8(5)(a) of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) ( Exiting the EU ) Regulations 2018, the Authority had decided to cancel Felicitas’ Part 4A licence.
Felicitas did not refer the matter to the Court within 28 days of the date on which the notice of decision was given to Felicitas.
The Authority has therefore today revoked the Part 4A license of Felicitas.
The FCA notes that, on 12 April 2021, the FCA withdrew the authorization of Felicitas on the grounds that Felicitas did not comply with the relevant laws and regulations regarding the conditions for registration as an investment firm in Cyprus.
In light of these issues, the Authority considers it desirable to cancel Felicitas’ Part 4A license in order to protect and strengthen the integrity of the UK financial system.