Information on number of firms deauthorised - April 2025

As of 1 April 2025, we have 779 cancellation applications to be considered. This figure will continually change on the basis of receipts and determinations made by the Cancellation Team. The work that is currently in progress has risen in the last month as the team experience seasonal peaks. In March 2025 alone, the team received 936 applications to cancel.

In the period of 1 January to 31 December 2024, 14% of applications received in that period remain ‘incomplete’. If we were to look at the 779 applications that were currently open, we would not be able to provide an accurate figure on completeness, this is because we are still reviewing these applications for completeness.

From 2024 the Cancellation Team, which sits within the Authorisation Division of the FCA consists of 2 Managers and 15 Associates. They manage the process of firms voluntarily applying to cancel their authorisation/registration and typically process upwards of 4,000 applications per year which vary in complexity.