FINAL NOTICE

Address:

Unit 5
Lower Road
Minster on Sea
Sheerness
ME12 3RT

ACTION

1.
For the reasons set out in this Final Notice, the Authority hereby takes the
following action against Mr Quinn.


2.
The Authority issued to Mr Quinn the Decision Notice which notified Mr Quinn that
for the reasons given below and pursuant to section 55J of the Act, the Authority
had decided to cancel Mr Quinn’s Part 4A permission.


3.
Mr Quinn has not referred the matter to the Tribunal within 28 days of the date
on which the Decision Notice was given to him.


4.
Accordingly, the Authority has today cancelled Mr Quinn’s Part 4A permission.

DEFINITIONS

5.
The definitions below are used in this Final Notice:

“the Act” means the Financial Services and Markets Act 2000;

“the Authority” means the Financial Conduct Authority;

“the Decision Notice” means the Decision Notice issued to Mr Quinn dated 4 May
2017;

“the Overdue Balance” means the amount owed by Mr Quinn to the Authority
comprising: an invoice dated 22 April 2016 for regulatory fees and levies of
£19.58 for the period 1 April 2015 – 31 March 2016 which was due for payment
by 22 May 2016; and an invoice dated 21 July 2016 for regulatory fees and levies
of £295 for the period 1 April 2016 – 31 March 2017 which was due for payment
by 20 August 2016;

“the Principles” means the Authority’s Principles for Businesses;

“Mr Quinn’s Part 4A permission” means the permission granted by the Authority
to Andrew Quinn under the Act;

“the suitability Threshold Condition” means the threshold condition set out in
paragraph 2E of Schedule 6 to the Act;

“the Threshold Conditions” means the threshold conditions set out in Schedule 6
to the Act;

“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber); and

“the Warning Notice” means the Warning Notice issued to Mr Quinn dated 11 April
2017.

REASONS FOR THE ACTION

6.
On the basis of the facts and matters and conclusions described in the Warning
Notice, and in the Decision Notice, it appears to the Authority that Mr Quinn is
failing to satisfy the suitability Threshold Condition, in that the Authority is not
satisfied that Mr Quinn is a fit and proper person having regard to all the
circumstances, including whether Mr Quinn managed his business in such a way
as to ensure that his affairs were conducted in a sound and prudent manner.


7.
Mr Quinn has failed to pay the Overdue Balance and he has not been open and
co-operative in all his dealings with the Authority, in that Mr Quinn has failed to
respond to the Authority’s repeated requests for him to pay the Overdue Balance,
and has thereby failed to comply with Principle 11 of the Principles and to satisfy
the Authority that he is ready, willing and organised to comply with the
requirements and standards under the regulatory system.


8.
These failures, which are significant in the context of Mr Quinn’s suitability, lead
the Authority to conclude that Mr Quinn has failed to manage his business in such
a way as to ensure that his affairs are conducted in a sound and prudent manner,
that he is not a fit and proper person, and that he is therefore failing to satisfy
the Threshold Conditions in relation to the regulated activities for which he has
had a permission.


DECISION MAKER

9.
The decision which gave rise to the obligation to give this Final Notice was made
by the Regulatory Decisions Committee.


IMPORTANT

10.
This Final Notice is given to Mr Quinn under section 55Z and in accordance with
section 390(1) of the Act.

Publicity

11.
The Authority must publish such information about the matter to which this Final
Notice relates as the Authority considers appropriate. The information may be
published in such manner as the Authority considers appropriate. However, the
Authority may not publish information if such publication would, in the opinion of
the Authority, be unfair to Mr Quinn or prejudicial to the interest of consumers.


12.
The Authority intends to publish such information about the matter to which this
Final Notice relates as it considers appropriate.

Authority contact

13.
For more information concerning this matter generally, please contact Shahida
Choudhury at the Authority (direct line: 020 7066 9546).

John Kirby
Enforcement and Market Oversight Division