FINAL NOTICE

FRN: 667849

Dated: 25 June 2018


ACTION

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

2.
The Authority issued to Mr Whitlock 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 Mr Whitlock’s Part 4A permission.

3.
Mr Whitlock has not referred the matter to the Tribunal within 28 days of the date
on which the Decision Notice was issued to him.

4.
Accordingly, the Authority has today cancelled Mr Whitlock’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;

“the Decision Notice” means the Decision Notice issued to Mr Whitlock dated 16
May 2018;

“the Return” means the CCR007 return for the period ended 5 April 2017, which
Mr Whitlock was due to submit to the Authority by 22 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);

“the Warning Notice” means the Warning Notice issued to Mr Whitlock dated 25
April 2018; and

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



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

7.
This is because Mr Whitlock has failed to comply with the regulatory requirement
to submit the Return. Mr Whitlock has not been open and co-operative in all his
dealings with the Authority, in that Mr Whitlock has failed to respond adequately
to the Authority's repeated requests for him to submit the Return, 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 Whitlock’s suitability,
lead the Authority to conclude that Mr Whitlock 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 Mr
Whitlock 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 Mr Whitlock 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 Whitlock 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 Yasmin
Moore at the Authority (direct line: 020 7066 5439).

Anna Couzens
Enforcement and Market Oversight Division