A sole trader has had his Part IV permission cancelled in connection with his failure to submit RMARs promptly, or at all, and a subsequent breach of Principle 11 (Relations with Regulators). The cancellation follows variation action removing all regulated activities from his permission. (Alan John Lofts trading as Personal Financial Services).

The FSA has cancelled a firm's Part IV permission in connection with its failure to notify a change in the address of its principal place of business (Heritage Finance Limited).