The FCA's cancellation of Pilote Classics Limited's Part 4A permission is an enforcement action against a firm authorised to conduct consumer credit activities, though the firm was not actively carrying on regulated business at the time of cancellation.
Low confidence — requires human review. While the firm held permissions for credit broking and debt adjusting, the update focuses on administrative cancellation for non-compliance rather than substantive payment or lending service regulation.
Specialism
The FCA cancelled Pilote Classics Limited's Part 4A permission effective immediately due to regulatory non-compliance, which constitutes a formal licence revocation action.
Low confidence — requires human review. While the firm held consumer credit permissions, the update does not concern payment services specifically; the secondary tag reflects the supervisory oversight context of the cancellation decision.
2026-02-25 19:03:57·gsharma@vixio.com
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TITLE: Financial Conduct Authority Cancels Pilote Classics Limited's Part 4A Permission
BODY:
On 25 February 2026, the Financial Conduct Authority (FCA) cancelled the Part 4A permission of Pilote Classics Limited (FRN: 920481), effective immediately. The FCA determined that the firm was carrying on no regulated activity to which its Part 4A permission related.
Pilote Classics Limited was authorised by the FCA on 18 March 2020 and held permission to conduct regulated activities in relation to consumer credit business, including agreeing to carry on a regulated activity, credit broking, debt adjusting, and debt-counselling. The cancellation was triggered by the firm's failure to meet two key regulatory obligations. First, the firm failed to pay periodic fees and levies owed to the FCA, including an invoice dated 15 September 2025 for £926.15 that was due by 15 October 2025. Second, the firm failed to submit required returns (CCR007 for the period ended 31 May 2025) to the FCA by the due date of 11 July 2025.
The FCA issued a notice to the firm on 17 November 2025 indicating it appeared the firm was carrying on no regulated activity and requesting a response. Following the firm's failure to respond, the FCA issued a further notice on 8 December 2025 proposing cancellation and specifying steps the firm could take to prevent this action. The firm failed to take these steps, leading to the cancellation decision.
The firm may apply for annulment of the FCA's decision by 24 February 2027. However, the firm has no right to refer the decision to the Upper Tribunal (Tax and Chancery Chamber). The FCA intends to publish information about this matter as it considers appropriate.
REFERENCE:
Financial Conduct Authority Notice of Decision to Pilote Classics Limited, dated 25 February 2026