FINAL NOTICE

To:

Douglas Carroll trading as City and Chartered Mortgage Services

ACTION

1.
For the reasons set out in this Final Notice, the Authority hereby takes the
following action against Douglas Carroll trading as City and Chartered Mortgage
Services (“Mr Carroll”).

2.
The Authority gave Mr Carroll a Decision Notice on 23 July 2014 (“the Decision
Notice”) which notified him that for the reasons given below and pursuant to
section 55J of the Act, the Authority had decided to cancel the permission granted
to Mr Carroll under the Act (“Mr Carroll’s permission”).

3.
Mr Carroll 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 Carroll’s permission.

DEFINITIONS

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

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


Douglas Carroll trading as City and Chartered Mortgage Services
28 August 2014
Final Notice Page 2

“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 Mr Carroll dated 11 June 2014 and in the Decision Notice, it
appears to the Authority that Mr Carroll is failing to satisfy the Threshold
Conditions, in that the Authority is not satisfied that Mr Carroll is a fit and proper
person having regard to all the circumstances, including whether Mr Carroll
managed his business in such a way as to ensure that his affairs are conducted in
a sound and prudent manner.

7.
This is because Mr Carroll has failed to comply with the regulatory requirement to
submit his RMAR for the period ended 31 January 2014. Mr Carroll has not been
open and co-operative in all his dealings with the Authority, in that he has failed
to respond to the Authority's repeated requests for him 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 he 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 Mr Carroll’s suitability, led
the Authority to conclude that Mr Carroll 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.

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 Carroll 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 Carroll 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.

Douglas Carroll trading as City and Chartered Mortgage Services
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Final Notice Page 3

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