FINAL NOTICE

Individual
Reference
Number:

GHF00004

ACTION

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

2.
The Authority gave Mr Fincher the Decision Notice, which notified Mr Fincher that,
for the reasons given below and pursuant to section 56 of the Act, the Authority
had decided to make an order prohibiting him from performing any function in
relation to any regulated activity carried on by any authorised person, exempt
person or exempt professional firm.

3.
Mr Fincher 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, for the reasons set out below, the Authority hereby makes an order
pursuant to section 56 of the Act prohibiting Mr Fincher from performing any
function in relation to any regulated activity carried on by any authorised person,

2

exempt person or exempt professional firm. The Prohibition Order takes effect
from 8 March 2016.

DEFINITIONS

5.
The definitions below are used in this Final Notice (and in Annex A):

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

“the Authority” means the body corporate previously known as the Financial
Services Authority and renamed on 1 April 2013 as the Financial Conduct
Authority;

“the Decision Notice” means the Decision Notice given to Mr Fincher dated 6
January 2016;

“EG” means the Enforcement Guide;

“FIT” means the Fit and Proper Test for Approved Persons sourcebook;

“the Handbook” means the Authority’s Handbook of rules and guidance;

“Mr Fincher” means Geoffrey Harold Arthur Fincher;

“the Prohibition Order” means the order prohibiting Mr Fincher, pursuant to
section 56 of the Act, from performing any function in relation to any regulated
activity carried on by any authorised person, exempt person or exempt
professional firm;

“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber); and

“the Warning Notice” means the Warning Notice given to Mr Fincher dated 3
December 2015.

RELEVANT STATUTORY PROVISIONS

6.
The statutory and regulatory provisions relevant to this Final Notice are set out in
Annex A.

SUMMARY OF REASONS

7.
The Authority has concluded, on the basis of the facts and matters and
conclusions described in the Warning Notice, and in the Decision Notice, that Mr
Fincher is not a fit and proper person to perform any function in relation to any
regulated activity carried on by any authorised person, exempt person or exempt
professional firm, as his conduct demonstrates a clear and serious lack of
honesty, integrity and reputation. Specifically, Mr Fincher:

(a)
was convicted on 25 September 2014 of 22 counts of dishonesty/financial
crime offences, and was sentenced on 10 November 2014 to 24 months’
imprisonment for those offences; and

(b)
was
convicted
on
9
April
2015
of
a
further
six
counts
of

dishonesty/financial crime offences, and was sentenced on 21 May 2015 to
a further 18 months’ imprisonment for those offences.

3

FACTS AND MATTERS RELIED ON

8.
Mr Fincher was previously approved by the Authority in relation to:

(a)
Firm A, to perform the controlled functions of:

(i)
(between 1 December 2001 and 31 July 2003) CF7 (Sole Trader
(AR)) and CF21 (Investment Adviser);

(b)
Firm B, to perform the controlled functions of:

(i)
(between 1 August 2003 and 1 June 2004) CF7 (Sole Trader (AR))
and CF21 (Investment Adviser);

(c)
Firm C, to perform the controlled functions of:

(i)
(between 1 March 2004 and 28 November 2013) CF1 (Director);
CF10 (Compliance Oversight); and CF11 (Money Laundering
Reporting); and

(ii)
(between 1 March 2004 and 31 March 2009) CF8 (Apportionment
and Oversight); and

(iii)
(between 1 March 2004 and 31 October 2007) CF21 (Investment
Adviser); and

(iv)
(between 1 November 2007 and 28 November 2013) CF30
(Customer);

(d)
Firm D, to perform the controlled functions of:

(i)
(between 31 October 2004 and 30 August 2013) CF1 (Director);
and

(ii)
(between 23 May 2006 and 31 March 2009) CF8 (Apportionment
and Oversight).

9.
Since 28 November 2013, Mr Fincher has not been approved to perform any
controlled functions in relation to any firm authorised by the Authority.

10.
On 25 September 2014, Mr Fincher was, upon his own confession, convicted at
Chester Crown Court of 22 offences: two counts of theft; three counts of
making/supplying articles for use in fraud; seven counts of obtaining money
transfer by deception; eight counts of dishonestly making false representation to
make gain for self/another or cause loss to other/expose other to risk, and two
counts of furnishing false information relating to accounts.

11.
On 10 November 2014, Mr Fincher was sentenced at Chester Crown Court to 24
months’ imprisonment for the offences summarised at paragraph 10 above.

12.
On 9 April 2015, Mr Fincher was, upon his own confession, convicted at Chester
Crown Court of six further offences: one count of theft; two counts of
making/supplying articles for use in fraud; and three counts of dishonestly
making false representation to make gain for self/another or cause loss to
other/expose other to risk.

13.
On 21 May 2015, Mr Fincher was sentenced at Chester Crown Court to a further
18 months’ imprisonment for the offences summarised at paragraph 12 above.

14.
The financial crime offences that led to Mr Fincher’s convictions summarised at
paragraphs 10 and 12 above, were committed respectively between 1 January
1991 and 3 October 2013 and between 1 January 1994 and 26 November 2014,
during significant periods of which Mr Fincher was approved by the Authority to
perform various controlled functions in relation to a number of firms authorised
by the Authority, as summarised at paragraph 8 above and in Annex B.

15.
Mr Fincher committed some of the offences summarised at paragraph 12 above
whilst he was released on bail for the offences summarised at paragraph 10
above.

DECISION MAKER

16.
The decision which gave rise to the obligation to give this Final Notice was made
by the Regulatory Decisions Committee.

IMPORTANT

17.
This Final Notice is given to Mr Fincher in accordance with section 390(1) of the
Act.

PUBLICITY

18.
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 Fincher or prejudicial to the interest of consumers.

19.
The Authority intends to publish this Final Notice and such information about the
matter to which this Final Notice relates as it considers appropriate.

AUTHORITY CONTACT

20.
For more information concerning this matter generally, please contact Roger
Hylton at the Authority (direct line: 020 7066 8168).

John Kirby
Enforcement and Market Oversight Division

5

ANNEX A


RELEVANT STATUTORY PROVISIONS

1.
The Authority’s operational objectives include: securing an appropriate degree of
protection for consumers (section 1C of the Act); and protecting and enhancing
the integrity of the UK financial system (section 1D of the Act).

2.
Section 56(1) of the Act provides:

“The [Authority] may make a prohibition order if it appears to it that an individual
is not a fit and proper person to perform functions in relation to a regulated
activity carried on by -

(a)
an authorised person,

(b)
a person who is an exempt person in relation to that activity, or

(c)
a person to whom, as a result of Part 20, the general prohibition does not

apply in relation to that activity.”

RELEVANT REGULATORY PROVISIONS

3.
In exercising its power to make a prohibition order, the Authority must have
regard to guidance published in the Handbook. The relevant main considerations
in relation to the action specified above are set out below.

The Enforcement Guide

4.
The Authority’s policy in relation to exercising its power to issue a prohibition
order is set out in EG.

5.
EG 9.1 explains the purpose of prohibition orders in relation to the Authority’s
regulatory objectives.

6.
EG 9.3 to 9.5 set out the Authority’s general policy on making prohibition orders.
In particular:

(a)
EG 9.3 states that the Authority will consider all relevant circumstances,
including whether enforcement action has been taken against the
individual by other enforcement agencies, in deciding whether to make a
prohibition order;

(b)
EG 9.4 states that the Authority has power to make a range of prohibition
orders depending on the circumstances of each case;

(c)
EG 9.5 states that the scope of a prohibition order will depend on the
reasons why the individual is not fit and proper and the severity of risk he
poses to consumers or the market generally.

7.
EG 9.17 sets out that where the Authority is considering whether to make a
prohibition order against someone who is not an approved person, the Authority
will consider the severity of the risk posed by the individual and may prohibit him
where it considers that it is appropriate to achieve the Authority’s statutory
objectives.

6

8.
EG 9.18 provides that, when considering whether to exercise its power to make a
prohibition order against such an individual, the Authority will consider all the
relevant circumstances of the case. These may include, but are not limited to, the
factors set out in EG 9.9. Those factors include: whether the individual is fit and
proper to perform functions in relation to regulated activities (noting that criteria
are set out in FIT 2.1, 2.2, and 2.3); the relevance and materiality of any matters
indicating unfitness; the length of time since the occurrence of any matters
indicating unfitness; and the severity of the risk which the individual poses to
consumers and to confidence in the financial system.

Fit and Proper Test for Approved Persons

9.
The Authority has issued guidance on the fitness and propriety of individuals in
FIT.

10.
FIT 1.3.1G(1) states that the most important considerations when assessing the
fitness and propriety of a person include that person’s honesty, integrity and
reputation.

11.
FIT 2.1.1G sets out that in determining a person’s honesty, integrity and
reputation, the Authority will have regard to all relevant matters.

12.
FIT 2.1.3G(1) states that the matters referred to in FIT 2.1.1G include, but are
not limited to, whether a person has been convicted of any criminal offence,
noting that particular consideration will be given to offences including those of
dishonesty, fraud, financial crime or an offence under legislation relating to
financial services (amongst other things).

ANNEX B

SUMMARY OF DATES OF APPROVAL FOR CONTROLLED FUNCTIONS AND DATES OF CRIMINAL OFFENCES

Controlled Functions

31/10/2004
30/08/2013
D

01/03/2004
28/11/2013
C

01/12/2001
31/07/2003
A

01/08/2003 01/06/2004
B

23/05/2006
31/03/2009
D

01/03/2004
31/03/2009
C

CF10 (Compliance
Oversight)

01/03/2004
28/11/2013
C

CF11 (Money Laundering
Reporting)

01/03/2004
28/11/2013
C

01/12/2001
31/07/2003
A

01/08/2003 01/06/2004
B

01/03/2004
31/10/2007
C

CF30 (Customer)
01/11/2007
28/11/2013
C

Theft
01/01/1991
to
31/12/1991

Make/Supply articles for
use in fraud

Theft
26/09/1995

Obtaining money transfer
by deception

23/11/2000

Obtaining money transfer
by deception

23/11/2000

Obtaining money transfer
by deception

Dishonestly make false
representation to make
gain for self/another or
cause loss to
other/expose other to risk

31/10/2007

Dishonestly make false
representation to make
gain for self/another or
cause loss to
other/expose other to risk

05/03/2008

Dishonestly make false
representation to make
gain for self/another or
cause loss to
other/expose other to risk

04/04/2008

Dishonestly make false
representation to make
gain for self/another or
cause loss to
other/expose other to risk

Obtaining money transfer
by deception

Furnishing false
information relating to
accounts

06/05/2003

ANNEX B

GEOFFREY HAROLD ARTHUR FINCHER

CF7 (Sole Trader (AR))

CF21 (Investment Adviser)

CF8 (Apportionment and
Oversight)

CF1 (Director)

ANNEX B

SUMMARY OF DATES OF APPROVAL FOR CONTROLLED FUNCTIONS AND DATES OF CRIMINAL OFFENCES

ANNEX B

GEOFFREY HAROLD ARTHUR FINCHER

Dishonestly make false
representation to make
gain for self/another or
cause loss to
other/expose other to risk

Dishonestly make false
representation to make
gain for self/another or
cause loss to
other/expose other to risk

Make/supply articles for
use in fraud

Obtaining money transfer
by deception

Obtaining money transfer
by deception

Furnishing false
information relating to
accounts

Obtaining money transfer
by deception

Dishonestly make false
representation to make
gain for self/another or
cause loss to
other/expose other to risk

Dishonestly make false
representation to make
gain for self/another or
cause loss to
other/expose other to risk

Make/supply articles for
use in fraud

03/10/2013

Dishonestly make false
representation to make
gain for self/another or
cause loss to
other/expose other to risk

Dishonestly make false
representation to make
gain for self/another or
cause loss to
other/expose other to risk

Make/supply articles for
use in fraud

01/07/2014

Theft (from the person of
another)

01/01/1994
to
26/11/2014

01/01/1994
to
26/11/2014

Make/supply articles for
use in fraud

06/07/2007

ANNEX B

SUMMARY OF DATES OF APPROVAL FOR CONTROLLED FUNCTIONS AND DATES OF CRIMINAL OFFENCES

ANNEX B

GEOFFREY HAROLD ARTHUR FINCHER

Dishonestly make false
representation to make
gain for self/another or
cause loss to
other/expose other to risk

31/10/2014

Note 1: Light shading - period during which Mr Fincher was approved by the Authority to perform controlled functions in relation to the various firms
Note 2: Darker shading - offences that Mr Fincher committed whilst he was approved by the Authority - 19 of the 22 offences of which Mr Fincher was convicted on 25 September 2014 and 1 of the further six offences of which he was convicted on 9 April 2015, were committed when he was approved by the
Authority