FCA cancels adviser firm's permissions for failing to submit returns

The Financial Conduct Authority (FCA) has cancelled an advice firm's permissions after it failed to submit regulatory returns.

The regulator ruled Nineveh Advisory, which is described as a 'designated investment business with advisory permissions', was not managed properly and did not conduct itself in a "sound and prudent manner". It therefore failed to satisfy the FCA's suitability threshold condition, the regulator said in a final notice published on 13 January. The business was issued a warning notice on 5 November followed by a decision notice on 28 November and has not appealed the regulatory action. The FCA alleged London-based Nineveh had failed to submit its balance sheet, income statement and cap...