FCA Cancels Part 4A Permission for H A Performance Limited Due to Unpaid Fees

Key Takeaways

• The Financial Conduct Authority (FCA) has officially cancelled the Part 4A permission of H A Performance Limited, effective August 12, 2026.
• This enforcement action resulted from the firm's failure to pay overdue regulatory fees and levies despite formal requests.

Deep Dive

This regulatory action serves as a critical reminder for compliance teams regarding the importance of maintaining administrative and financial standing with regulators. The cancellation of permissions is a severe outcome that effectively terminates a firm's ability to conduct regulated activities in the UK. For compliance professionals, this highlights that regulatory adherence extends beyond operational processes to include the timely settlement of all statutory levies and fees.

The core issue identified by the FCA was the firm's failure to satisfy the Suitability Threshold Condition. Specifically, the regulator determined that H A Performance Limited was not a "fit and proper person" because it failed to pay outstanding regulatory fees and levies. This breach of the FEES and SUP manuals demonstrated a lack of organizational readiness and a failure to manage business affairs in a sound and prudent manner, directly impacting the FCA's objectives for consumer protection and financial integrity.

While this specific notice does not introduce new industry-wide regulations, it reinforces the existing requirements under the Financial Services and Markets Act 2000. The timeline for this action was immediate; the cancellation took effect on the date of the Final Notice (August 12, 2026). There are no further deadlines mentioned for the firm, as its permission has already been revoked.

Compliance professionals should use this case to conduct a gap analysis of their own organizations' regulatory payment schedules. It is recommended that firms implement robust tracking mechanisms for all regulatory levies, including the FOS levy, FSCS levy, and SFGB levies, to ensure no payments are missed. Furthermore, an internal audit of the "fit and proper" documentation process should be conducted to ensure that administrative compliance is treated with the same rigor as operational compliance.

The risk implications are significant. For a firm, failing to manage regulatory obligations can lead to reputational damage, increased supervisory scrutiny, and ultimately, the loss of the license to operate. The impact assessment suggests that even minor administrative oversights, such as unpaid fees, can escalate into major enforcement actions that threaten the very existence of the business.

Source: Financial Conduct Authority