The FCA has revoked the regulatory permissions of Bath-based Financial Planning firm Nicholas Corfield (trading as Impact Financial Planning and Formosa Wealth Management).
The Part 4A permissions – which allowed the firm to carry out regulated business - were cancelled yesterday (19 March) by the FCA as it judged that the firm was "not a fit and proper person."
The regulator said the firm (FRN 520487) had failed to pay overdue regulatory fees and levies to the FCA despite requests to do so.
The FCA has not disclosed the amount of fees and levies unpaid.
The firm has not referred the matter to the Upper Tribunal within 28 days of the Decision Notice was issued so the cancellation has taken place with effect from yesterday (19 March).
The firm, based in Freshford, Bath, used three trading names during its history: Impact Financial Planning (from January 2021), Nicholas Corfield (from July 2010) and Formosa Wealth Management (from May 2010).
The only regulated individual working for the firm is listed on the FCA register as Nicholas Corfield.
The firm appears to have been trading from 2010.
The company’s website appears to be no longer available.