The UK Financial Conduct Authority (FCA) has decided to cancel the MECO Group’s Part 4A permission. The cancellation takes effect on 22 August 2023.

The effect of the cancellation is that the MECO Group no longer has permission to carry on any regulated activities.

The MECO Group was authorised by the Authority on 08 October 2018 and given a Part 4A permission to conduct the following regulated activities:

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

The MECO Group submitted regulatory returns to the Authority for the periods 1 April 2022 to 31 March 2023 which show that the MECO Group has not generated any income from the regulated activities it is permitted to carry on. In addition, there are no other matters that suggest the MECO Group is carrying on regulated activities.

The Authority considered that the MECO Group is carrying on no regulated activities to which its Part 4A permission relates. The FCA has therefore decided to cancel the MECO Group’s Part 4A permission.