The Financial Conduct Authority (FCA) has temporarily halted regulated business at Kingsbridge Capital Advisors (KCA) following allegations that the firm failed to pay membership fees.
The London-based adviser has appealed the decision to the Upper Tribunal, which will decide whether the suspension will go ahead. In a decision notice released yesterday (April 27), the FCA claimed that KCA has failed to pay membership on many occasions since 2019. KCA reportedly owes a total of £2,691.42 to the regulator. The FCA has provisionally cancelled KCA's part 4A permissions which cover its ability to carry on regulated activities. The decision notice dates from November but has only now been published. The regulator said in its statement: "KCA has failed to respond ade...
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