The UK Financial Conduct Authority (FCA) has revoked the authorization of Matrix Investments.
The FCA believes that the company is not meeting the requirements for suitability, as the Authority is not convinced that Matrix Investments is a responsible and trustworthy entity, considering factors like how it manages its business to ensure responsible and sensible practices.
It has not paid the overdue amount they owe, and they have not been open and cooperative with the Authority in all of their interactions. Despite multiple requests from the Authority to pay the overdue balance, Matrix Investments has not responded, which means they have not followed Principle 11 of the Principles. This failure to comply with the requirements and standards of the regulatory system makes it unclear if Matrix Investments is:
- Repared
- Willing
- Prganized to meet these obligations.
The FCA has found that Matrix Investments did not handle its business properly, causing major problems when it comes to suitability. As a result, the FCA believes that Matrix Investments is not competent or trustworthy. And is failing to meet the necessary requirements for its regulated activities.
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