UK's Financial Conduct Authority (FCA) cancels Part 4A licence for Matrix Investments。

In the FCA's view, Matrix Investments failed to meet the appropriateness threshold because, having considered all the circumstances, including whether Matrix Investments managed its business in such a manner, the Authority did not consider Matrix Investments to be a fit and proper person to make this decision to ensure that its affairs were conducted in a sound and prudent manner.。

Matrix Investments failed to pay overdue balances and did not disclose and cooperate in all transactions with the Authority, as Matrix Investments failed to respond to repeated requests from the Authority for payment of overdue balances, thereby failing to comply with Article 11 of the Principles and failing to convince the Authority that it was ready, willing and organized to comply with the requirements and standards of the regulatory system。

These deficiencies are significant to the applicability of Matrix Investments and the FCA has therefore concluded that Matrix Investments failed to meet the threshold conditions associated with its regulated activities licensed under Part 4A in a manner that ensured that its affairs were managed in a sound and prudent manner, was not a fit and proper person.。

Matrix Investments has not referred the matter to the arbitral tribunal within 28 days from the date of receipt of the notice of decision。

As a result, the Authority has cancelled the Part 4A licence for Matrix Investments。