According to Companies House Mr Armitt was born in July 1944, which would mean he would be celebrating his 79th birthday this month.

Mr Armitt was authorised in 2004 and had a part 4A permission to conduct regulated activities in relation to insurance distribution and designated investment business.

His permissions included being allowed to advise on investments (except on pension transfers and pension opt outs), advise on P2P agreements, arrange deals in investments and make arrangements with a view to transactions in investments.

Under chapter 16 of the supervision manual, Mr Armitt was required to submit returns to the authority by relevant due dates. They included the complaints returns and the retail mediation activities returns for between October 2019 and October 2022.

Mr Armitt was due to submit the returns to the FCA on various dates between May 2020 and November 2022 but failed to do so, the regulator said.

The FCA said it gave Mr Armitt notice on 18 April, which stated that it "may take action to cancel Mr Armitt’s Part 4A permission."

He failed to respond to the notice and the FCA said it therefore considered that Mr Armitt failed to provide information to the FCA as is required by the handbook.

On 20 June it gave Mr Armitt a further notice which stated that it proposed to cancel Mr Armitt’s Part 4A permission on 17 July unless he took the steps specified.

He again failed to act as directed so the FCA decided to cancel his permission yesterday.