The UK Financial Conduct Authority (FCA) today issued to Equitrade Markets Ltd a Decision Notice which notified the firm that the Authority had decided to cancel its Part 4A permission.
It appears to the regulator that the firm is failing to satisfy the suitability Threshold Condition, in that the Authority is not satisfied that the Firm is a fit and proper person having regard to all the circumstances, including whether the firm managed its business in such a way as to ensure that its affairs were conducted in a sound and prudent manner.
Equitrade Markets has failed to comply with the regulatory requirement to submit the Returns and it has not been open and co-operative in all its dealings with the Authority, in that the firm has failed to respond to the Authority’s repeated requests for it to submit the Returns, and has thereby failed…
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