The Financial Conduct Authority (FCA) has decided to cancel Tusk Capital Management Limited's Part 4A licence。Tusk Capital Management Limited is no longer eligible to carry out any regulated activity after the licence is cancelled。

The company was authorised by the Supervisory Authority on 24 February 2005 and was granted a Part 4A licence to carry out the following regulated activities:

a) Investment advice (except for pension transfers and pension opt-outs).

b) providing advice on P2P protocols;

c) Consent to conduct regulated activities;

d) arranging (facilitating) investment transactions;

e) Conduct investment transactions as an agent;

f) make arrangements for investment transactions;

g) Management investment。

The company is required to submit a return to the Authority before the relevant due date.。However, TCML did not file a return with the Monetary Authority.。As a result, the Authority considers that TCML has failed to provide the Authority with the information required by the manual, that is, the information it should have provided in the return。

On 7 September 2023, the FCA issued a notice to TCML stating that:

a) the Authority considers that TCML has not carried out regulated activities in connection with its Part 4A licence; b) the Authority proposes to cancel TCML's Part 4A licence on 29 September 2023, unless TCML takes the measures specified in the notification instructions。

The company did not take the steps specified in the notice。

FCA considers that TCML has not carried out regulated activities in connection with Part 4A licensing。As a result, the FCA has decided to cancel TCML's Part 4A license, effective September 29, 2023.。