The Financial Conduct Authority (FCA) has cancelled the permissions of insurance and mortgage broker Goldthorn Mortgage & Insurance Services following the liquidation of the company.
The regulator said it was not satisfied that Birmingham-based Goldthorn, which was put into compulsory liquidation by HM Revenue & Customs in February, had the appropriate resources to carry out its regulated business.
The FCA said it had asked Goldthorn's liquidator to apply to cancel Goldthorn's Part 4A permission, but it declined to do so.
"The authority has therefore concluded," it said, "that Goldthorn has failed to maintain appropriate resources and is failing to satisfy the threshold conditions in relation to the regulated activities for which Goldthorn has had a permission."
Goldthorn did not try to appeal the FCA's decision notice within the given timeframe of 28 days.
