Context
The FCA has removed several trading names relating to Promethean Finance Limited (Promethean) from the Financial Services Register.
Key points to note
Between March 2022 and March 2023, Promethean registered several trading names which were listed on the Financial Services Register but which they did not own or control. The third-party firms who owned or controlled these trading names were not authorised to carry out regulated activities. The FCA has previously taken this action in cases where firms had registered trading names in an attempt to avoid the requirement to register the third-party firms as Appointed Representatives (ARs) or Introducer Appointed Representatives (IARs),
The FCA does not consider the trading names to be genuine trading names of Promethean and have taken action against the firm.
Next actions
None – for information and awareness.