Reference Case Number: FOI8529
Freedom of Information: Right to know request:
Please could you provide the following information:
1. How many advice firms have given up permission from March 2020 to March 2021?
2. How many advice firms have given up permission from March 2021 to June 2021?
3. How many regulated firms have given up their permissions since March 2020 to March 2021?
4. How many regulated firms have given up their permissions since March 2021 to June 2021?
5. How many firms have given up their DB permissions since the FCA decided to ban contingent charging in June?
FCA response:
We have processed your email in line with the provisions of the Freedom of Information Act 2000 (FOIA).
Where you have asked for firms that have ‘given up their permissions’ we have taken that to mean firms who cancelled their Part 4a permission in these time periods. Please note the below figures are a count of all cancellations which became effective in these time periods not a count of applications submitted in that time.
We would also like to explain as the timeframe for questions 1 to 4 overlap we have provided the information 1 March 2020 to 28 February 2021 and 1 March 2021 to 30 June 2021.
Please see below tables in relation to questions 1 to 4 of your request:
| Number of advice firms which have given up permissions | |
|---|---|
| 1 March 2020 - 28 February 2021 | 257 |
| 1 March 2021 - 30 June 2021 | 99 |
| Number of regulated firms which have given up permissions | |
|---|---|
| 1 March 2020 - 28 February 2021 | 3690 |
| 1 March 2021 - 30 June 2021 | 1053 |
Finally, with regards to question 5, we can confirm the total number of firms that gave up their DB permissions since 5 June 2020 to 31 July 2021 is 687.