The FCA has cancelled the part 4A regulatory permissions of Bromley-based firm HLU Ltd (FRN: 938123).

The action means that the firm can no longer carry on any regulated activity.

The firm was authorised by the FCA on 26 March 2021 with part 4A permission to advise and arrange on investments (except on pension transfers), dealing in investments, credit broking and insurance broking.

The FCA said the firm had failed to submit its Retail Mediation Activities Returns, CCR002, CCR-Complaint returns which had been due between 12 October 2021 and 15 April 2024.

It warned the firm in 1 October 2024 that its part 4A permission could be cancelled but the firm failed to respond so its permission was cancelled on 21 February.

HLU has until 20 February 2026 to apply for an annulment of the decision.

There was just one person associated with regulatory activities at the firm, Paul David Holmes, according to the FCA Register. Companies House records show that Mr Holmes has been the sole company director since the firm was founded as a private limited company in August 2019.

HLU had previously been subject to a compulsory strike-off action from Companies House in July 2022, with the strike-off being discontinued the same month following evidence provided to Companies House.

The FCA has cancelled the permissions of several advice firms in the past couple of months.

So far this month it has cancelled the part 4A regulatory permission of Northamptonshire-based firm Nectar Wealth Limited (FRN 800673), Hounslow-based Dunphy’s Limited (FRN 311162), and Scottish Retirement & Investment Solutions Limited (FRN 533079).