FINAL NOTICE

To:
Enrico Riga (Trading as Shire Hampton Motors)

ACTION

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


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


3.
Mr Riga 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 Riga’s Part 4A permission.

Enrico Riga (Trading as Shire Hampton Motors)
25 February 2021

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;

“the Decision Notice” means the Decision Notice issued by the Authority to Mr Riga
dated 17 December 2020;

“the Overdue Balance” means the total outstanding sum of £401, owed by Mr Riga
to the Authority for annual fees and levies for the period 1 April 2017 to 31 March
2018, which was due for payment by 18 November 2017 and for an administrative
fee which was due for payment by 5 October 2017 (in respect of non-submission of
regulatory return due to be submitted by 22 May 2017);

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

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

“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 Mr Riga
dated 26 November 2020.


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


7.
Mr Riga has failed to pay the Overdue Balance and he has not been open and co-
operative in all his dealings with the Authority, in that Mr Riga has failed to respond
to the Authority’s repeated requests for him to pay the Overdue Balance, and has
thereby failed to comply with Principle 11 of the Principles and to satisfy the
Authority that he 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 Mr Riga’s suitability, lead the
Authority to conclude that Mr Riga 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 was granted a Part 4A
permission.


Enrico Riga (Trading as Shire Hampton Motors)
25 February 2021

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 Riga 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 Riga 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 Hattie
McGlone at the Authority (direct line: 020 7066 0160).

Anna Couzens
Enforcement and Market Oversight Division