The UK Financial Conduct Authority (FCA) has revoked the Part 4A license of Apex Legal Limited. The cancellation is effective from January 5, 2024.
The Authority has taken this action because it considers that the company does not carry out any regulated activity to which the Part 4A license relates.
Apex Legal was authorized by the FCA on 1 September 2016 and has a Part 4A license to carry out the following regulated activities:
- Organization (validation) of investment agreements.
- Assistance in managing and executing an insurance contract.
- Dealing with investments as an agent.
- Arrangements for the purpose of trading in investments. and
- Agreement to carry on a regulated activity.
The FCA gave the company two notices, which stated that the regulator considered that the company was not carrying out a regulated activity to which the Part 4A license related. and the Authority proposes to cancel the company’s Part 4A licence.
Apex Legal failed to take the steps specified in the notices.
Therefore, the Authority decided to cancel the company’s Part 4A licence.