LLPs and the FSA
5 May 05
A firm authorised by the FSA that changes status to LLP requires to re-register
It has been brought to the Society’s attention that where a firm is changing its status from a partnership to a limited liability partnership, where that firm is authorised for investment business by the Financial Services Authority (FSA) such a firm will have to de-register with the FSA as a partnership for investment business purposes and then re-register as an LLP. The procedure for such de-registration and re-registration is contained in the FSA’s handbook on authorisation.