FINAL NOTICE

Dated: 9 May 2017

ACTION

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

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

3.
Mr Pringle 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 Pringle’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 Pringle dated 21
March 2017;

“the Overdue Balance” means the amount owed by Mr Pringle to the Authority
totalling £84.58, comprising an invoice in respect of periodic fees and levies dated
28 October 2015, which was due for payment by 27 November 2015;

“the Principles” means the Authority’s Principles for Businesses;

“Mr Pringle’s Part 4A permission” means the permission granted by the Authority
to Keith Pringle pursuant to Part 4A of the Act;

“the Return” means the CCR007 (key data) return for the period ended 5 April
2016, which Mr Pringle was due to submit to the Authority by 18 May 2016;

“the suitability Threshold Condition” means the threshold condition stated 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); and

“the Warning Notice” means the Warning Notice issued to Mr Pringle dated 21

February 2017.

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 Pringle is
failing to satisfy the suitability Threshold Condition, in that the Authority is not
satisfied that Mr Pringle is a fit and proper person having regard to all the
circumstances, including whether Mr Pringle 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 Pringle has failed to comply with the regulatory requirements
to submit the Return and pay the Overdue Balance. Mr Pringle 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 pay the Overdue Balance, 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 Pringle’s suitability, lead
the Authority to conclude that Mr Pringle 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
Pringle 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 Mr Pringle in accordance with section 390(1) of the
Act.

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 Pringle 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.

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