Larksway Investments Limited (Larksway) was referred to the FCA's Enforcement and Market Oversight Division on 5 April 2016 because it had failed to comply, despite repeated requests by the FCA and the Financial Ombudsman Service to do so, with a Final Decision made on 17 December 2014 against Larksway in favour of a customer, relating to the sale of a home insurance policy.
On 27 September 2017, the FCA stopped Larksway from providing insurance brokerage services to customers. This meant Larksway could not arrange insurance for customers and could not provide insurance services to existing customers. We took this action because Larksway failed to deal with the FCA in an open and cooperative way in relation to concerns the FCA had about:
- the way in which Larksway was handling insurance premiums it had received from customers
- Larksway’s ability to meet its financial liabilities as they fell due
- Larksway’s ability to operate its banking arrangements adequately
A full explanation of the reasons for this action can be found in the Supervisory Notice given to Larksway[1].
On 7 December 2017, a winding up order was made against Larksway. The firm is in liquidation and Critchleys LLP (Liquidators) were appointed as its liquidators on 13 February 2018. This means that Larksway is not trading and all of the company’s assets and liabilities have been passed onto the Liquidators.
On 27 November 2018, we permanently cancelled Larksway’s FCA authorisation because it has failed to comply with the award made by the Financial Ombudsman Service.
A full explanation of the reasons for this action can be found in the Final Notice to Larksway[2].
What this means for existing customers
Customers of Larksway should check their policy documents and consider contacting the insurance company who they think their insurance policy is held with as soon as possible to find out if the policy is valid.
If the insurance cover is not valid contact the insurance company to find out what action should be taken in terms of the invalid insurance cover. It might be necessary to consider whether there is need to arrange alternative insurance.
If you need to contact Larksway, please contact Lawrence King from the Liquidators whose details are available on the FS Register[3].
There are various organisations that can provide impartial advice, such as the Money Advice Service[4].
For information about who to contact for advice, please contact the
- FCA’s Consumer Contact Centre on 0800 111 6768 or
- use our webform[5]
What this means for consumers
Larksway has permanently stopped taking new business and is unable to arrange any insurance services.
Making a complaint against Larksway
Any complaints against Larksway can be made to the Liquidators.