The UK Financial Conduct Authority (FCA) has cancelled the Adelphi Special Risks Limited’s Part 4A permission to carry on regulated activities.

Adelphi Special Risks Limited’s permission covered:

• advising on investments (except on pension transfers and opt outs);
• advising on P2P agreements;
• agreeing to carry on a regulated activity;
• arranging (bringing about) deals on investments;
• assisting in the administration and performance of a contract of insurance;
• credit broking;
• dealing in investments as agent;
• debt administration; and
• making arrangements with a view to transactions in investments.

The Authority concluded that the firm is failing to satisfy the Suitability Threshold Condition in that the firm is not a fit and proper person to conduct regulated activities having regard to all the circumstances.

Specifically, the firm has failed to be open and co-operative with the Authority, failed to provide information requested from it and has failed to submit the Returns. As a result, the Authority is not satisfied that the firm’s business is being, or will be, managed in such a way as to ensure that its affairs will be conducted in a sound and prudent manner.

The cancellation action has been imposed in order to advance the Authority’s consumer protection and integrity objectives.

The cancellation took effect on November 4, 2026.