Ipswich financial advice firm CN Wealth (FRN: 618268) has had its permissions revoked by the FCA.

The firm was authorised by the regulator from 17 September 2014 but had its permissions cancelled for failing to submit required returns.

The firm had part 4A permissions to conduct regulated investment business, including advising on investments (except pension transfers and pension opt outs), mortgages, credit broking and P2P agreements.

The FCA said it had revoked the firm’s permissions because, “it considers that the firm is carrying on no regulated activity to which the firm’s Part 4A permission relates.”

The regulator added that the Ipswich adviser had failed to submit its Firm Details Attestation returns.

It had given the firm notice in October that it intended to cancel the firm’s permissions. The firm failed to respond to the notice and was then informed that its permissions would be cancelled on 28 January (yesterday).

The regulator added that: “If the firm is aggrieved by the decision to cancel its Part 4A permission it may make an application for an annulment of the Authority’s decision.” It has until 27 January 2026 to make an application.

CN Wealth previously traded as CNM Advisory between June 2016 and December 2023, and as Croucher Needham between 2014 and 2023.

The firm had in the past acted as an appointed representative of Century 10 Real Estate Finance Limited (2017), Finance for Real Estate Limited (2017) and REFC Ltd (August 2015-April 2022).

CN Wealth had three advisers: Gordon James Rumsey, Adam John Stokes and Jeremy Peter Boshier.

According to Companies House, CN Wealth petitioned for insolvency in June, with the commencement of winding up under a compulsory liquidation beginning in October following a court order.

The advice firm had previously faced potential strike-off action from Companies House when it was given a compulsory strike off order in May 2022, however, this strike-off action was discontinued in July 2022.