Financial Services Authority
To: Ascension Securities Limited (In Liquidation)
Of: C/o David Merrygold and Matthew Howard
PKF (UK) LLP
16 The Havens
Dated: 25 November 2010
TAKE NOTICE: The Financial Services Authority (the "FSA") of 25 The North
Colonnade, Canary Wharf, London E14 5HS gives Ascension Securities Limited
(“Ascension”), final notice about a decision to cancel the permission granted to
Ascension to carry on regulated activities.
1.1 The FSA gave Ascension a Decision Notice on 5 October 2010 (the “Decision
Notice”) which notified Ascension that for the reasons given below and pursuant to
section 45 of the Financial Services and Markets Act 2000 (the “Act”), the FSA had
decided to cancel the permission granted to Ascension pursuant to Part IV of the Act
(“Ascension’s Part IV permission”).
1.2 Ascension was informed of its statutory right to make a reference to the Upper
Tribunal (Tax and Chancery Chamber) (“the Tribunal”), but Ascension has not
referred the Decision Notice to the Tribunal within 28 days of the date on which the
Decision Notice was given to it. Accordingly, the FSA has today cancelled
Ascension’s Part IV permission.