The FCA has cancelled the permissions and withdrawn the authorisation of London-based monetary recommendation agency Elan Monetary Group Ltd (FRN: 48971).
The regulator selected to take away the permission to hold out regulated actions because it considers Elan is just not carrying on any regulated actions associated to its Half 4A permission.
The FCA cancelled Elan’s registration on Wednesday.
The agency beforehand traded underneath Elan Business Finance, Elan Monetary, Elan Monetary Group, Elan Monetary Options, Elan Insurance coverage, Elan Cash, Elan Mortgages, Elan Tax Planning, Elan Pensions and Elan Financial savings & Investments.
Elan was first authorised by the regulator of 1 July 2009 to adviser on investments, mortgages, and insurance coverage.
The regulator added that Elan has didn’t pay its periodic charges and levies which had been due for fee by 17 August 2023, and has additionally didn’t submit its returns data.
The FCA had given discover to Elan that its authorisation can be revoked on 15 March however the agency didn’t reply to the discover.
In keeping with Corporations Home Elan has additionally didn’t return its accounts which had been due by 31 January 2021. The recommendation agency additionally failed to offer its newest affirmation assertion which was due by 21 January 2024.
There’s at present an energetic proposal with Corporations Home to strike the non-public restricted firm from its register.
