The FCA has cancelled the Part 4A permission to carry out regulated business of West Yorkshire-based IFA McLean’s (FRN: 146450).

McLean’s previously traded as McLean Financial Services until January 2005.

The firm held FCA permissions to provide insurance and investment advice and advise on pension transfers, consumer credit and home finance.

The FCA said it chose to take action as it believed the firm was no longer carrying on any regulated activities.

McLean’s failed to pay an invoice dated 28 August for periodic fees and levies of £4,125.24 which had been due for payment by 27 September.

The firm also failed to submit Retail Mediation Activities or Complaints Returns forms for the period between 1 November 2023 and 30 April. The firm was due to submit these to the FCA by 13 June.

The watchdog added that the IFA was given notice of the potential removal of permissions on 16 October and 7 November, both of which were not responded to.

The firm has a right to apply for an annulment of the authority’s decision but does not have the right to refer the decision to the Tribunal which considers appeals.

McLean’s is registered with Companies House as a Limited Liability Partnership with three partners; James Michael Gregson, Kathryn Gregson and Douglas McLean. The firm has been registered as a dormant company since September 2017.

According to the FCA register McLean’s had two financial advisers: Douglas McLean and Andrew Reynolds.