FINAL NOTICE

ACTION

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

2.
The Authority gave the Partnership the Decision Notice which notified the
Partnership that for the reasons given below and pursuant to section 55J(8) of
the Act, the Authority had decided to cancel the Partnership’s permission.

3.
The Partnership 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 the Partnership’s permission.

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 body corporate previously known as the Financial
Services Authority and renamed on 1 April 2013 as the Financial Conduct
Authority;


“the Decision Notice” means the Decision Notice issued to the Partnership on 2
April 2014;

“the Partnership” means the partnership of Derick Anthony Whewall and Alan
James Hewitt;

“the Partnership’s permission” means the permission granted by the Authority to
the Partnership under the Act; and

“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber).


REASONS FOR THE ACTION

6.
On the basis of the facts and matters and conclusions described in the Warning
Notice issued to the Partnership dated 12 March 2014, and in the Decision Notice,
it appears to the Authority that, as a result of a variation of the Partnership’s
permission, the Partnership’s permission no longer includes any regulated
activities. As a result, and having regard to its operational objectives, the
Authority has cancelled the Partnership’s permission using the power given in
section 55J(8) of the Act.

7.
The Partnership’s permission was varied on its own application on 7 August 2007
to remove all regulated activities.


8.
The Authority has asked the Partnership on a number of occasions to apply to
cancel its permission but it has failed to do so.


9.
The Authority is satisfied that the Partnership’s permission is no longer required.

10.
The Authority has therefore decided to cancel the Partnership’s Part 4A
permission for the reasons described above.


DECISION MAKER

11.
The decision which gave rise to the obligation to give this Final Notice was made
by the Regulatory Decisions Committee.

IMPORTANT

12.
This Final Notice is given to the Partnership in accordance with section 390(1) of
the Act.

13.
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 the Partnership or prejudicial to the interest of
consumers.


14.
The Authority intends to publish such information about the matter to which this
Final Notice relates as it considers appropriate.


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15.
For more information concerning this matter generally, the Partnership should
contact Donovan Thorpe-Davis at the Authority (direct line: 020 7066 8678).

John Kirby
Enforcement and Financial Crime Division