FINAL NOTICE

To:

Day D V Limited

Address:
39 Crown Close
Dewsbury
West Yorkshire
WF12 8RG

FRN:

763608

Dated:

31 March 2021


ACTION

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

2.
The Authority issued to DDVL 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 DDVL’s Part 4A permission.

3.
DDVL has not referred the matter to the Tribunal within 28 days of the date on
which the Decision Notice was issued to it.

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

DEFINITIONS

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

“DDVL” means Day D V Limited Limited;

“DDVL’s Part 4A permission” means the permission granted by the Authority to
ACCL pursuant to Part 4A of the Act;


“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 DDVL dated 24
September 2020;

“RAG” means Regulated Activity Group as referred to in SUP;

“the RDC” means the Regulatory Decisions Committee of the Authority;

“the Returns” means the CCR007 and CCR003 returns for the period ended 31
October 2019, which DDVL was due to submit to the Authority by 12 December
2019;

“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 DDVL dated 3 September
2020.

REASONS FOR 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 DDVL is failing
to satisfy the suitability Threshold Condition, in that the Authority is not satisfied
that DDVL is a fit and proper person having regard to all the circumstances,
including whether DDVL managed its business in such a way as to ensure that its
affairs were conducted in a sound and prudent manner.

7.
This is because DDVL has failed to comply with the regulatory requirement to
submit the Returns. DDVL has not been open and co-operative in all its dealings
with the Authority, in that DDVL has failed to respond adequately to the Authority's
repeated requests for it to submit the Returns, 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 DDVL’s suitability, lead the
Authority to conclude that DDVL 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 DDVL was granted a Part
4A 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 DDVL 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 DDVL 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 Arunn
Thiruchelvam at the Authority (direct line: 020 7066 1241).

Anna Couzens
Enforcement and Market Oversight Division