FCA ends Scottish broker’s trading permissions after dual pricing attestation and response failures
The Financial Conduct Authority has cancelled L R Kennedy Insurance Services’ permission to carry out regulated activities with immediate effect.
The move on 25 April came after repeated failures from the Glasgow-based broker to respond to questionnaires, telephone calls and emails from the watchdog as it chased up dual pricing compliance information.
Giving the order the FCA said the firm appeared to fail to satisfy the suitability threshold condition and was not “a fit and proper person to conduct regulated activities having regard to all the circumstances”.
They said: “Specifically, the firm has failed to be open and co-operative in all
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