FINAL NOTICE

To:

James Perman & Company

Of:


2 Bellman’s Close



Largs



Ayrshire



KA30 8AP




FSA Reference

Number:

148306


TAKE NOTICE: The Financial Services Authority of 25 The North Colonnade, Canary
Wharf, London E14 5HS (the "FSA") gives James Perman & Company (“JPC”), final
notice about a decision to cancel the permission granted to JPC to carry on regulated
activities

1.
ACTION

1.1
The FSA gave JPC a Decision Notice on 29 June 2010 (the “Decision Notice”), which
notified it that for the reasons given below and pursuant to section 45 of the Financial
Services and Markets Act 2000 (the “Act”), the FSA had decided to cancel the
permission granted to it under Part IV of the Act (“JPC’s Part IV permission”).

1.2
On 20 July 2010, JPC referred the matter to the Upper Tribunal (Tax and Chancery
Division) (the “Tribunal”) However, on 25 August 2011, the Tribunal dismissed out
that reference.

2.
REASONS FOR ACTION


2.1
On the basis of the facts and matters and conclusions described in the Warning Notice
issued to JPC dated 1 April 2010 (the “Warning Notice”), and in the Decision Notice,
it appears to the FSA that JPC is failing to satisfy the threshold conditions set out in
Schedule 6 to the Act (the "Threshold Conditions").

2.2
This is because JPC has failed to co-operate with the FSA’s repeated requests to
conduct a supervisory visit in order to assess JPC’s compliance with the FSA’s
Treating Customers Fairly requirements.

2.3
This failing, which is significant in the context of JPC’s suitability, leads the FSA to
conclude that JPC is not conducting its business soundly and prudently and in
compliance with proper standards and that it is not a fit and proper person, and it is
therefore failing to satisfy the Threshold Conditions in relation to the regulated
activities for which it had Part IV permission.

3.
DECISION MAKER

3.1
The decision which gave rise to the obligation to give this Final Notice was made by
the Regulatory Decisions Committee.

4.
IMPORTANT

4.1
This Final Notice is given to JPC in accordance with section 390(1) of the Act.


Publicity

4.2
Sections 391(4), 391(6) and 391(7) of the Act 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 JPC or prejudicial to
the interests of consumers.

4.3
The FSA intends to publish this Final Notice and such information about the matter to
which this Final Notice relates as it considers appropriate.



FSA Contact

4.4
For more information concerning this matter generally, please contact Isabel Barnes at
the FSA (direct line: 020 7066 1426/ fax: 020 7066 1427).




John Kirby
FSA Enforcement and Financial Crime Division