FINAL NOTICE

ACTION

1.
For the reasons set out in this Final Notice, the Authority hereby takes the
following action against Coffin Insurance Services (“CIS”).

2.
The Authority gave CIS a Decision Notice on 14 October 2014 (“the Decision
Notice”) which notified it that for the reasons given below and pursuant to section
55J of the Act, the Authority had decided to cancel the permission granted to CIS
under the Act (“CIS’s permission”).

3.
CIS 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 CIS’s permission.

DEFINITIONS

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

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

“the Authority” means the Financial Conduct Authority;

“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);

“RMAR” means the Retail Mediation Activities Return.

REASONS FOR ACTION

6.
On the basis of the facts and matters and conclusions described in its Warning
Notice issued to CIS dated 10 September 2014 and in the Decision Notice, it
appears to the Authority that CIS is failing to satisfy the Threshold Conditions, in
that the Authority is not satisfied that CIS is a fit and proper person having
regard to all the circumstances, including whether CIS managed its business in
such a way as to ensure that its affairs are conducted in a sound and prudent
manner.

7.
This is because CIS has failed to comply with the regulatory requirement to
submit its RMAR for the period ended 30 April 2014, which was due to be
submitted by 13 June 2014. CIS has not been open and co-operative in all its
dealings with the Authority, in that it has failed to respond adequately to the
Authority's repeated requests for it to submit the RMAR, and has thereby failed to
comply with Principle 11 of the Authority's Principles for Businesses and to satisfy
the Authority that it 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 CIS’s suitability, lead the
Authority to conclude that CIS 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 CIS 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 CIS 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 CIS 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.

Contact

13.
For more information concerning this matter generally, please contact Rashmeet
Panesar at the Authority (direct line: 020 7066 3750).

John Kirby
Enforcement and Financial Crime Division