Trust Financial Planning has entered liquidation, the Financial Conduct Authority (FCA) has announced, after Paul Stanley and Dean Watson of Begbies Traynor were appointed as joint liquidators last week.

The announcement comes after the firm became subject to voluntary requirements, including stopping all regulated activity, on 19 March.

Trust Financial Planning agreed to the voluntary requirements because the regulator considered that it was failing to meet its threshold conditions.

These conditions represent the minimum standards that firms must satisfy to carry out regulated activities in the UK.

The FCA said that the firm’s director has taken advice about its financial position and decided to put the firm into creditors’ voluntary liquidation.

As part of the process, the liquidators will now wind up the company and its affairs.

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