FINAL NOTICE

ACTION

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


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


3.
Ms Cook 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 Ms Cook’s Part 4A 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 Financial Conduct Authority;


“Ms Cook’s Part 4A permission” means the permission granted by the Authority to

Ms Cook pursuant to Part 4A of the Act;

“the Decision Notice” means the Decision Notice issued by the Authority to Ms
Cook dated 7 March 2018;

“the Overdue Balance” means the amount owed by Ms Cook to the Authority of
£395, comprising: an invoice dated 13 July 2016 for £250, in respect of an
administrative fee for non-submission of a regulatory return, which was due for
payment by 12 August 2016; and an invoice dated 9 September 2016 for £145 in
respect of periodic fees and levies, which was due for payment by 9 October
2016;

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

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

“the Return” means the CCR007 (key data) return for the period ended 4 April
2017, which Ms Cook was due to submit to the Authority by 19 May 2017;

“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 Ms
Cook dated 7 February 2018.


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


7.
Ms Cook has failed comply with the regulatory requirement to submit the Return
and pay the Overdue Balance. Ms Cook has not been open and co-operative in all
her dealings with the Authority, in that Ms Cook has failed to respond to the
Authority’s repeated requests for her to submit the Return and pay the Overdue
Balance, and has thereby failed to comply with Principle 11 of the Principles and
to satisfy the Authority that she 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 Ms Cook’s suitability, lead
the Authority to conclude that Ms Cook has failed to manage her business in such
a way as to ensure that her affairs are conducted in a sound and prudent manner,
that she is not a fit and proper person, and that she is therefore failing to satisfy
the Threshold Conditions in relation to the regulated activities for which she 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 Ms Cook 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 Ms Cook 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 Funmi Ojo
at the Authority (direct line: 020 7066 1354).

Anna Couzens
Enforcement and Market Oversight Division