Two sole traders have had their Part IV permissions varied to remove all regulated activities with immediate effect. Both individuals had failed to satisfy the FSA that they had effected compliant PII or otherwise failed to satisfy the FSA that they had adequate resources. As a result, the risk of loss or other adverse effect on consumers was such that the FSA decided to use its own initiative powers to vary the Part IV permissions to remove all regulated activities (Alan Lofts t/a Personal Financial Services, (PDF 44.4KB), 3 April 2009 and David Viner Element t/a Money Matters, (PDF 44.7KB), 2 April 2009).