Final Notice
On , the Financial Conduct Authority issued a Final Notice to ARC-TECH SUPPORT LTD
1
FINAL NOTICE
To:
ARC-TECH SUPPORT LTD
Pen-y-bont ar Ogwr
ACTION
1.
For the reasons set out in this Final Notice, the Authority hereby takes the following
action against ATSL.
2.
The Authority issued to ATSL the Decision Notice which notified ATSL that for the
reasons given below and pursuant to section 55J of the Act, the Authority had
decided to cancel ATSL’s Part 4A permission.
3.
ATSL has not referred the matter to the Tribunal within 28 days of the date on
which the Decision Notice was given to it.
4.
Accordingly, the Authority has today cancelled ATSL’s Part 4A permission.
ARC-TECH SUPPORT LTD
14 October 2022
2
DEFINITIONS
5.
The definitions below are used in this Final Notice:
“the Act” means the Financial Services and Markets Act 2000;
“ATSL” means ARC-TECH SUPPORT LTD;
“ATSL’s Part 4A permission” means the permission granted by the Authority to
ATSL pursuant to Part 4A of the Act;
“the Authority” means the Financial Conduct Authority;
“the Decision Notice” means the Decision Notice issued by the Authority to ATSL
dated 9 March 2021;
“the Overdue Balance” means the outstanding sum of £316.88 owed by ATSL to
the Authority comprising: an invoice for £160.69 for annual fees and levies for the
period 1 April 2018 to 31 March 2019, which was due for payment by 9 November
2018; and an invoice for £156.19 for annual fees and levies for the period 1 April
2019 to 31 March 2020, which was due for payment by 9 August 2019;
“the Principles” means the Authority’s Principles for Business;
“the suitability Threshold Condition” means the threshold condition set out in
paragraph 2E of Schedule 6 of the Act;
“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber); and
“the Warning Notice” means the Warning Notice issued by the Authority to ATSL
dated 12 February 2021.
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 ATSL is failing
to satisfy the suitability Threshold Condition, in that the Authority is not satisfied
that ATSL is a fit and proper person having regard to all the circumstances,
including whether ATSL managed its business in such a way as to ensure that its
affairs were conducted in a sound and prudent manner.
7.
ATSL has failed to pay the Overdue Balance and it has not been open and co-
operative in all its dealings with the Authority, in that ATSL has failed to respond
to the Authority’s repeated requests for it to pay the Overdue Balance, and has
thereby failed to comply with Principle 11 of the Principles and to satisfy the
Authority that it is ready, willing and organised to comply with the requirements
and standards of the regulatory system.
8.
These failings, which are significant in the context of ATSL’s suitability, lead the
Authority to conclude that ATSL has failed to manage its business in such a way as
to ensure that its affairs are conducted in a sound and prudent manner, that it is
not a fit and proper person, and that it is therefore failing to satisfy the Threshold
Conditions in relation to the regulated activities for which it has had a Part 4A
permission.
ARC-TECH SUPPORT LTD
14 October 2022
3
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 ATSL 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 ATSL 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 Maciej
Alexander Bajko at the Authority (direct line: 020 7066 1838).
Anna Couzens
Enforcement and Market Oversight Division
FINAL NOTICE
To:
ARC-TECH SUPPORT LTD
Pen-y-bont ar Ogwr
ACTION
1.
For the reasons set out in this Final Notice, the Authority hereby takes the following
action against ATSL.
2.
The Authority issued to ATSL the Decision Notice which notified ATSL that for the
reasons given below and pursuant to section 55J of the Act, the Authority had
decided to cancel ATSL’s Part 4A permission.
3.
ATSL has not referred the matter to the Tribunal within 28 days of the date on
which the Decision Notice was given to it.
4.
Accordingly, the Authority has today cancelled ATSL’s Part 4A permission.
ARC-TECH SUPPORT LTD
14 October 2022
2
DEFINITIONS
5.
The definitions below are used in this Final Notice:
“the Act” means the Financial Services and Markets Act 2000;
“ATSL” means ARC-TECH SUPPORT LTD;
“ATSL’s Part 4A permission” means the permission granted by the Authority to
ATSL pursuant to Part 4A of the Act;
“the Authority” means the Financial Conduct Authority;
“the Decision Notice” means the Decision Notice issued by the Authority to ATSL
dated 9 March 2021;
“the Overdue Balance” means the outstanding sum of £316.88 owed by ATSL to
the Authority comprising: an invoice for £160.69 for annual fees and levies for the
period 1 April 2018 to 31 March 2019, which was due for payment by 9 November
2018; and an invoice for £156.19 for annual fees and levies for the period 1 April
2019 to 31 March 2020, which was due for payment by 9 August 2019;
“the Principles” means the Authority’s Principles for Business;
“the suitability Threshold Condition” means the threshold condition set out in
paragraph 2E of Schedule 6 of the Act;
“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber); and
“the Warning Notice” means the Warning Notice issued by the Authority to ATSL
dated 12 February 2021.
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 ATSL is failing
to satisfy the suitability Threshold Condition, in that the Authority is not satisfied
that ATSL is a fit and proper person having regard to all the circumstances,
including whether ATSL managed its business in such a way as to ensure that its
affairs were conducted in a sound and prudent manner.
7.
ATSL has failed to pay the Overdue Balance and it has not been open and co-
operative in all its dealings with the Authority, in that ATSL has failed to respond
to the Authority’s repeated requests for it to pay the Overdue Balance, and has
thereby failed to comply with Principle 11 of the Principles and to satisfy the
Authority that it is ready, willing and organised to comply with the requirements
and standards of the regulatory system.
8.
These failings, which are significant in the context of ATSL’s suitability, lead the
Authority to conclude that ATSL has failed to manage its business in such a way as
to ensure that its affairs are conducted in a sound and prudent manner, that it is
not a fit and proper person, and that it is therefore failing to satisfy the Threshold
Conditions in relation to the regulated activities for which it has had a Part 4A
permission.
ARC-TECH SUPPORT LTD
14 October 2022
3
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 ATSL 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 ATSL 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 Maciej
Alexander Bajko at the Authority (direct line: 020 7066 1838).
Anna Couzens
Enforcement and Market Oversight Division