FSA revokes financial services firm's permissions

11^th March 2010 at 19:00

The Financial Services Authority (FSA) has sent Jim Fanning, a man trading as James Fanning Financial Services, a final notice on cancelling permission letting him continue with regulated activities.

One of the reasons behind the decision was Mr Fanning' failure to notify the FSA of a change in the address of his principal place of business.

This meant that the FSA does not have "current, valid contact information" for the business and can therefore not contact it.

"These failures, which are significant in the context of your suitability, lead the FSA to conclude that you are not conducting your business soundly and prudently," the regulatory body explained in its letter to Mr Fanning.

It comes after the FSA sent Adam John Lucas, trading as People Loans, a final notice about cancelling permission granted to him to continue with regulated activities.

The regulatory body said that Mr Lucas did not pay fees and levies of £1,349.41 owed to the FSA.

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