FCA cancels Guyon Capital Management’s permission
The UK Financial Conduct Authority (FCA) has decided to cancel Guyon Capital Management Limited’s Part 4A permission.
The effect of the cancellation is that Guyon Capital Management Limited no longer has permission to carry on any regulated activities.
The firm was authorised by the Authority to conduct the following regulated activities:
- agreeing to carry on a regulated activity;
- arranging (bringing about) deals in investments;
- making arrangements with a view to transactions in investments; and
- managing investments
Guyon Capital Management submitted regulatory returns to the Authority for the periods 1 January 2020 to 31 December 2021 which show that the firm has not generated any income from the regulated activities it is permitted to carry on.
On 19 July 2023, the Authority gave the firm a notice which stated that:
- the Authority considered that the firm is carrying on no regulated activity to which its Part 4A permission relates; and
- the Authority proposes to cancel Guyon Capital Management’s Part 4A permission on 17 August 2023 unless the firm takes the steps specified in the directions to notice.
Guyon Capital Management failed to take the steps specified in the notice.
The Authority considers that Guyon Capital Management is carrying on no regulated activity to which its Part 4A permission relates. The Authority has therefore decided to cancel the firm’s Part 4A permission. The cancellation of GCML’s Part 4A permission took effect on August 17, 2023.