FCA regulated company in a small group

FCA regulated company in a small group

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I have a client who is getting FCA authorisation to conduct investment management activities, they have a group structure as follows.

LLP

owns 100% of

Management Company Ltd (FCA)

which in turn owns 100% of

Other company Ltd

The management company in the middle is the FCA authorised business which will require a statutory and FCA audit.  Does this then mean that the LLP and the other company will too require an audit and will consolidated accounts need to be produced?  Other than being having an FCA authorised company, the group would easily be considered small under normal circumstances.

This is not a structure I encouraged.  Any help much appreciated.

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Mike Cooper HJS
By mike_uk_1983
08th Feb 2016 14:22

More information required

To answer your question you need more than its just FCA authorised as it would only not be small and need an audit if it MiFID investment company.  

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