How do I resign from FSA following the transaction being concluded?
Nearing completion of the sale you should apply to FSA for cancellation of your Part IV Permission. The FSA are allowed a period of 6 months to grant this, but usually if no matters are outstanding, such as your RMAR, then this would normally only take a few weeks. The Cancellation Form can be obtained at http://www.fsa.gov.uk/pubs/other/cancellation_form.pdf Please be aware that this form requires you to confirm that certain actions have taken place, before submission, for example, you have notified your clients of the decision to transfer. There is no FSA fee for cancellation of your Part IV Permission. back to top What happens to my existing PI cover should I transfer? Once your existing company has stopped trading and is de-authorised by FSA then you are no longer required to maintain PI cover. As previously outlined, if you previously traded as a conventional Partnership or Sole Trader then you remain personally liable for any future claim. In such a case, you should consider care