______________________________________________________________________

FINAL NOTICE
___________________________________________________________________________


To:
Gulam Mohmed Suleman Jiva

Of:


395 Derby Street



Bolton



Lancashire



BL3 6LT






FSA Reference
Number:

545005


Dated:

4 October 2012

ACTION

1.
For the reasons set out in this Final Notice, the Financial Services Authority (the
“FSA”) hereby takes the following action against Gulam Mohmed Suleman Jiva (“Mr
Jiva”).

2.
The FSA gave Mr Jiva a Decision Notice on 29 August 2012 (the “Decision Notice”)
which notified Mr Jiva that for the reasons given below and pursuant to Regulation
10(1)(h) of the Payment Services Regulations 2009 (the “PSR”), the FSA had decided
to cancel the registration granted to Mr Jiva as a small payment institution under the
PSR.

3.
Mr Jiva has not referred the matter to the Upper Tribunal (Tax and Chancery
Chamber) within 28 days of the date on which the Decision Notice was given to Mr
Jiva.

4.
Accordingly, the FSA has today cancelled Mr Jiva’s registration as a small payment
institution.

REASONS FOR ACTION

5.
On the basis of the facts and matters and conclusions described in the Warning Notice
dated 13 July 2012 (the “Warning Notice”), and in the Decision Notice (an extract of
the Decision Notice is attached to and forms part of this Notice), the FSA has
concluded that Mr Jiva has failed to submit the Payment Services Directive

Transactions return (the “FSA057”), for the period ended 31 December 2011, and to
respond adequately to repeated FSA requests that he submit the FSA057.

6.
These failings lead the FSA to conclude that Mr Jiva has failed to comply with the
requirement that he submit the FSA057 to the FSA, that Mr Jiva has failed to
demonstrate a readiness and willingness to comply with his ongoing regulatory
obligations and to deal with the FSA in an open and co-operative way. It is therefore
desirable to cancel Mr Jiva’s registration as a small payment institution in order to
protect the interests of consumers, in accordance with Regulation 10(1)(h) of the PSR
(as applied by Regulation 14).

RELEVANT STATUTORY AND REGULATORY PROVISIONS

7.
The statutory and regulatory provisions relevant to this Final Notice are set out in the
Annex.

DECISION MAKER

8.
The decision which gave rise to the obligation to give this Final Notice was made by
the Regulatory Decisions Committee.

IMPORTANT

9.
This Final Notice is given to Mr Jiva in accordance with section 390(1) of the
Financial Services and Markets Act 2000 (the “Act”) (as applied by paragraph 7(b) of
Part 1 of Schedule 5 to the PSR).

Publicity

10.
Sections 391(4), 391(6) and 391(7) of the Act (as applied by paragraph 7(c) of Part 1
of Schedule 5 of the PSR) apply to the publication of information about the matter to
which this Final Notice relates. Under those provisions, the FSA must publish such
information about the matter to which this Final Notice relates as the FSA considers
appropriate. The information may be published in such manner as the FSA considers
appropriate. However, the FSA may not publish information if such publication
would, in the opinion of the FSA, be unfair to Mr Jiva or prejudicial to the interests of
consumers.

11.
The FSA intends to publish such information about the matter to which this Final
Notice relates as it considers appropriate.

FSA contact

12.
For more information concerning this matter generally please contact Evan Cheminais
at the FSA (direct line: 020 7066 7232/fax: 020 7066 6677).


……………………………………………………..
John Kirby
FSA Enforcement and Financial Crime Division

EXTRACT FROM THE DECISION NOTICE DATED 29 AUGUST 2012 ISSUED BY
THE FSA TO GULAM MOHMED SULEMAN JIVA


“FACTS AND MATTERS RELIED ON

7. Mr Jiva was registered by the FSA on 29 September 2011 as a small payment institution.

8. Mr Jiva is required to submit the FSA057. Despite repeated requests and warnings, he
has failed to submit the FSA057 for the period ended 31 December 2011.

9. By its Warning Notice dated 13 July 2012 (the “Warning Notice”), the FSA gave notice
that it proposed to take the action described above and Mr Jiva was given the opportunity
to make representations to the FSA about that proposed action.

10. No representations having been received by the FSA from Mr Jiva within the time
allowed by the Warning Notice, the default procedures in DEPP 2.3.2G of the FSA’s
Decision Procedure and Penalties Manual permit the facts and matters described in the
Warning Notice, and repeated in this Decision Notice, to be regarded as undisputed.

11. The FSA has therefore decided to take the action to cancel Mr Jiva’s registration for the
reasons described above.”


END OF EXTRACT


ANNEX TO THE FINAL NOTICE ISSUED BY THE FSA TO GULAM MOHMED
SULEMAN JIVA ON 4 OCTOBER 2012


RELEVANT STATUTORY PROVISIONS

1.
Regulation 14 of the PSR states:

“Regulations 7 to 11 apply to registration as a small payment institution as
they apply to authorisation as a payment institution…”

2.
Under Regulation 10(1)(h) (as applied by Regulation 14) of the PSR, the FSA may
cancel the registration of a small payment institution if the cancellation is desirable in
order to protect the interests of consumers.

3.
Regulation 82 of the PSR states:

“(1) A payment service provider must give the Authority such information in
respect of its provision of payment services and its compliance with
requirements imposed by or under…these Regulations as the Authority may
direct.

(2) Information required under this regulation must be given at such times and
in such form, and verified in such manner, as the Authority may direct.”

RELEVANT HANDBOOK PROVISIONS

4.
In exercising its power to cancel the registration of a small payment institution, the
FSA must have regard to guidance published in the FSA’s Handbook of rules and
guidance (the “Handbook”). The relevant main considerations in relation to the action
specified above are set out below.

Relevant Directions

5.
FSA Direction SUP 16.13.4D, in the Supervision Manual of the Handbook, directs
that a small payment institution is required to submit the FSA057 annually, one month
from 31 December.

6.
FSA Direction SUP 16 Annex 28A D specifies the format by which the FSA057 is to
be completed and submitted.

OTHER RELEVANT REGULATORY PROVISIONS


7.
The FSA’s policy in relation to exercising its enforcement powers is set out in the
Enforcement Guide (“EG”).

8.
EG 19.91 provides that the FSA’s approach to enforcing the PSR will mirror its
general approach to enforcing the Act.

9.
EG 19.93 provides that, in relation to the PSR, the FSA has decided to adopt
procedures and policies, in relation to the use of its sanctioning and regulatory
powers, akin to those it has under the Act. The types of circumstances in which the
FSA will consider cancelling a firm’s Part IV permission under the Act include the
non-submission of regulatory returns.