FINAL NOTICE

ACTION

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



2.
The Authority issued to Mrs Lewis the Decision Notice which notified Mrs Lewis that
for the reasons given below and pursuant to section 55J of the Act, the Authority had
decided to cancel Mrs Lewis’s Part 4A permission.


3.
Mrs Lewis has not referred the matter to the Tribunal within 28 days of the date on
which the Decision Notice was given to her.


4.
Accordingly, the Authority has today cancelled Mrs Lewis’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 Mrs Lewis dated 26 July
2018;


“Mrs Lewis’s Part 4A permission” means the permission granted by the Authority to

Mrs Lewis pursuant to Part 4A of the Act;

“the Overdue Balance” means the amount owed by Mrs Lewis to the Authority of
£395 comprising: an invoice for administrative fee of £250 for late submission of a
regulatory return, which had been due for payment by 12 August 2016; and an
invoice for regulatory fees and levies of £145, which had been due for payment by
20 November 2016;

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

“the suitability Threshold Condition” means the threshold condition set out 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 Mrs Lewis dated 4 July
2018.

REASONS FOR THE 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 Mrs Lewis is failing
to meet the suitability Threshold Condition, in that the Authority is not satisfied that
Mrs Lewis is a fit and proper person having regard to all the circumstances, including
whether Mrs Lewis managed her business in such a way as to ensure that her affairs
were conducted in a sound and prudent manner.


7.
Mrs Lewis has failed to pay the Overdue Balance and she has not been open and co-
operative in all her dealings with the Authority, in that Mrs Lewis has failed to respond
to the Authority’s repeated requests for her to pay the Overdue Balance, and has
thereby failed to comply with Principle 11 of the Principles and to satisfy the Authority
that she is ready, willing and organised to comply with the requirements and
standards of the regulatory system.


8.
These failures, which are significant in the context of Mrs Lewis’s suitability, lead the
Authority to conclude that Mrs Lewis has failed to manage her business in such a
way as to ensure that her affairs are conducted in a sound and prudent manner, that
she is not a fit and proper person, and that she is therefore failing to satisfy the
Threshold Conditions in relation to the regulated activities for which she was granted
a Part 4A 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 Mrs Lewis 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 Mrs Lewis 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 Funmi Ojo at
the Authority (direct line: 020 7066 1354).

Anna Couzens
Enforcement and Market Oversight Division