FINAL NOTICE

ACTION

1.
For the reasons given in this notice, the Authority hereby makes an order prohibiting Mr

Hussein from performing any function in relation to any regulated activity carried on by

an authorised person, an exempt person or an exempt professional firm.

REASONS FOR THE ACTION

2.
On 22 January 2016 the Authority gave Mr Hussein a decision notice (the “Decision

Notice”) which notified him that it had decided to make an order pursuant to section 56

of the Financial Services and Markets Act 2000 (“the Act”) prohibiting Mr Hussein from

performing any function in relation to any regulated activity carried on by an authorised

person, an exempt person or an exempt profession firm.

3.
On 19 February 2016, Mr Hussein referred the Decision Notice to the Upper Tribunal (Tax

and Chancery Chamber) (the “Tribunal”). The written decision (the “Decision”) of the

Tribunal was released on 20 June 2018 and can be found on the Tribunal’s website:

4.
The Tribunal determined that the Authority’s decision to impose an order prohibiting Mr

Hussein from performing any function in relation to any regulated activity carried on by

an authorised person, an exempt person or an exempt profession firm is one which is

reasonably open to the Authority to make and accordingly dismissed Mr Hussein’s

reference.

5.
In light of the above, the Authority has issued this Final Notice.

PROCEDURAL MATTERS

6.
This Final Notice is given under, and in accordance with, section 390 of the Act.

7.
Sections 391(4), 391(6) and 391(7) of the Act apply to the publication of information

about the matter to which this notice relates. Under those provisions, the Authority must

publish such information about the matter to which this 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 Hussein or prejudicial

to the interests of consumers or detrimental to the stability of the UK financial system.

8.
The Authority intends to publish such information about the matter to which this Final

Notice relates as it considers appropriate.

Authority contacts

9.
For more information concerning this matter generally, contact Stephen Robinson (020

7066 1338) or Ross Murdoch (020 7066 5396) at the Enforcement and Market Oversight

Division of the Authority.

Mark Francis
Director, Enforcement and Market Oversight Division
Financial Conduct Authority