On July 13, 2016, the FCA issued three final notices cancelling the permission to carry out regulated activities of Edge Performance 10 Limited, Mr. Mark Andrew Walker and Volpe Capital Management LLP. In each case, the FCA was not satisfied that the firm was a fit and proper person. Both firms and Mr. Walker had failed to comply with the regulatory requirement to submit a required return to the FCA. They had also failed to respond to repeated requests for the form to be submitted, thereby failing to comply with Principle 11 of the FCA’s Principles for Businesses which requires firms to be open and cooperative in their dealings with the FCA. As a consequence, the FCA concluded that each had failed to satisfy the suitability Threshold Condition.
The final notice for Edge Performance 10 Limited is available at: https://www.fca.org.uk/publication/final-notices/edgeperformance-limited.pdf, the final notice for Mr. Walker is available at: https://www.fca.org.uk/publication/final-notices/markandrew-walker.pdf and the final notice for Volpe Capital Management LLP is available at: https://www.fca.org.uk/publication/final-notices/volpe-capital-management-llp.pdf.