The regulator chose to remove the permission to carry out regulated activities as it considers Elan is not carrying on any regulated activities related to its Part 4A permission.

The FCA cancelled Elan’s registration on Wednesday.

The firm previously traded under Elan Commercial Finance, Elan Financial, Elan Financial Group, Elan Financial Solutions, Elan Insurance, Elan Money, Elan Mortgages, Elan Tax Planning, Elan Pensions and Elan Savings & Investments.

Elan was first authorised by the regulator of 1 July 2009 to adviser on investments, mortgages, and insurance.

The regulator added that Elan has failed to pay its periodic fees and levies which were due for payment by 17 August 2023, and has also failed to submit its returns information.

The FCA had given notice to Elan that its authorisation would be revoked on 15 March but the firm did not respond to the notice.

According to Companies House Elan has also failed to return its accounts which were due by 31 January 2021. The advice firm also failed to provide its latest confirmation statement which was due by 21 January 2024.

There is currently an active proposal with Companies House to strike the private limited company from its register.