Hertfordshire based insurance broker has FCA authorisation cancelled

Larksway-Insurance-brokers-in-liquidation

The FCA has published a consumer warning in relation to Larksway Investments Limited, trading as Larksway.

FCA official statement:

Larksway Investments Limited (Larksway) was referred to the FCA's Enforcement and Market Oversight Division on 5th April 2016 because it had failed to comply, despite repeated requests by the FCA and the Financial Ombudsman Service to do so, with a Final Decision made on 17th December 2014 against Larksway in favour of a customer, relating to the sale of a home insurance policy.

On 27th September 2017, the FCA stopped Larksway from providing insurance brokerage services to customers. This meant Larksway could not arrange insurance for customers and could not provide insurance services to existing customers. We took this action because Larksway failed to deal with the FCA in an open and cooperative way in relation to concerns the FCA had about:

  • The way in which Larksway was handling insurance premiums it had received from customers
  • Larksway’s ability to meet its financial liabilities as they fell due
  • Larksway’s ability to operate its banking arrangements adequately

On 7th December 2017, a winding up order was made against Larksway. The firm is in liquidation.   This means that Larksway is not trading and all of the company’s assets and liabilities have been passed onto the Liquidators.

On 27th November 2018, we permanently cancelled Larksway’s FCA authorisation because it has failed to comply with the award made by the Financial Ombudsman Service.