FINAL NOTICE

ACTION

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

2.
The Authority issued to John Sanders 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 John Sanders’ permission.

3.
John Sanders 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 John Sanders’ 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 John Sanders dated 13
January 2016;

“John Sanders’ permission” means the permission granted by the Authority to
John Sanders pursuant to Part 4A of the Act;

“the Return” means the CCR007 return for the period ended 3 April 2015, which
was due to be submitted to the Authority by 19 May 2015;

“the Threshold Conditions” means the threshold conditions set out in Schedule 6
to the Act; and

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

REASONS FOR ACTION

6.
On the basis of the facts and matters and conclusions described in its Warning
Notice issued to John Sanders dated 16 December 2015 and in the Decision
Notice, it appears to the Authority that John Sanders is failing to satisfy the
Threshold Conditions, in that the Authority is not satisfied that John Sanders is a
fit and proper person having regard to all the circumstances, including whether
John Sanders managed his business in such a way as to ensure that his affairs
are conducted in a sound and prudent manner.

7.
This is because John Sanders has failed to comply with the regulatory
requirement to submit the Return. John Sanders has not been open and co-
operative in all his dealings with the Authority, in that he 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 John Sanders’ suitability,
lead the Authority to conclude that John Sanders 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 John Sanders 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 John Sanders 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 John Sanders 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 Prea Deans
at the Authority (direct line: 020 7066 2272).

John Kirby
Enforcement and Market Oversight Division