FINAL NOTICE

To:

Clarity Copiers (Cornwall) (Chris Towers trading as)



FRN:
685418


Dated:
10 January 2018

ACTION

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

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

3.
Mr Towers 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 Towers’s Part 4A permission.


/cont…








Clarity Copiers (Cornwall) (Chris Towers trading as)



10 January 2018
Final Notice
Page 2


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 by the Authority to Mr
Towers dated 7 November 2017;

“Mr Towers’s Part 4A permission” means the permission granted by the Authority
to Clarity Copiers (Cornwall) (Chris Towers trading as) pursuant to Part 4A of the
Act;

“the Overdue Balance” means the amount owed by Mr Towers to the Authority
comprising an invoice dated 19 August 2016 in respect of annual fees and levies for
£145, which was due for payment by 18 September 2016;

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

“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 by the Authority to Mr
Towers dated 11 October 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 Towers is
failing to satisfy the suitability Threshold Condition, in that the Authority is not
satisfied that Mr Towers is a fit and proper person having regard to all the
circumstances, including whether Mr Towers managed his business in such a way
as to ensure that his affairs were conducted in a sound and prudent manner.

7.
Mr Towers 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 Towers 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 of the regulatory system.

8.
These failures, which are significant in the context of Mr Towers’s suitability, lead
the Authority to conclude that Mr Towers 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.





/cont…




Clarity Copiers (Cornwall) (Chris Towers trading as)



10 January 2018
Final Notice
Page 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 Mr Towers 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 Towers 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 Maria Lewis
at the Authority (direct line: 020 7066 0897).






Anna Couzens
Enforcement and Market Oversight Division