FINAL NOTICE

To:

EPLS Risk Solutions Limited (formerly Glen Insurance Consultants

Limited)

ACTION

1.
For the reasons set out in this Final Notice, the Authority hereby takes the
following action against EPLS Risk Solutions Limited (formerly Glen Insurance
Consultants Limited) (“EPLS”).

2.
The Authority gave EPLS a Decision Notice on 8 August 2014 (“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 the permission granted to
EPLS under the Act (“EPLS’ permission”).

3.
EPLS 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 EPLS’ permission.

DEFINITIONS

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

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

“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 EPLS dated 18 July 2014 and in the Decision Notice, it appears to
the Authority that EPLS is failing to satisfy the Threshold Conditions, in that the
Authority is not satisfied that EPLS is a fit and proper person having regard to all
the circumstances, including whether EPLS managed its business in such a way as
to ensure that its affairs are conducted in a sound and prudent manner.

7.
This is because EPLS has failed to comply with the regulatory requirement to
submit its RMAR for the period ended 28 February 2014, which was due to be
submitted by 11 April 2014. EPLS has not been open and co-operative in all its
dealings with the Authority, in that it has failed to respond to the Authority's
repeated requests for it 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 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 EPLS’ suitability, lead the
Authority to conclude that EPLS 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 it 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 EPLS 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 EPLS 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.

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