The FCA has cancelled the Part 4A permission of Scottish firm Retirement & Investment Solutions Limited (FRN 533079) because it said it considers that the firm is carrying on no regulated activity.

The FCA Register says the firm “can no longer provide regulated activities and products.”

The Stirling-based adviser business was authorised by the FCA in November 2010 and had a Part 4A permission to conduct regulated activities in relation to advising on investments, pension transfers and pension-opt outs as well as arranging deals in investments.

The FCA said it has failed to pay periodic fees and levies owed to the regulator and has failed to submit returns.

In November 2024 the regulator gave the firm notice that it intended to cancel its Part 4A permission.

The firm failed to respond to the notice so the FCA gave the firm a further notice. The firm failed to respond to that so the regulator took enforcement action on 7 February.

The FCA said if the firm is aggrieved by the decision to cancel its Part 4A permission it may make an application for an annulment by 6 January 2026.

According to the FCA Register the firm had one director, Gregor Duthie, who had been with the business since 2017.

The Register reports that: “This individual is no longer in a role that requires regulatory approval.”

According to the Retirement & Investment Solutions Limited website, Mr Duthie “has over 21 years’ experience in the financial industry and cut his teeth in the pensions department of a well-known and well-respected Scottish insurance company.”

The website said he is a member of the Personal Finance Society, the Chartered Insurance Institute & the London Institute of Banking & Finance.