FINAL NOTICE

To:
Laura Thompson (trading as ML Car Sales)

ACTION

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

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

3.
Mrs Thompson 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 Thompson’s Part 4A permission.

Laura Thompson (ML Car Sales trading as)

26 January 2021

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 by the Authority to Mrs
Thompson dated 16 September 2020;

“the Overdue Balance” means the outstanding sum of £316.48, owed by Mrs
Thompson to the Authority for annual fees and levies for the period 1 April 2019 to
31 March 2020, which was due for payment by 1 November 2019;

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

“the RDC” means the Regulatory Decisions Committee of the Authority (see further
under Procedural Matters below);

“Mrs Thompson’s Part 4A permission” means the permission granted by the
Authority to Mrs Thompson pursuant to Part 4A of the Act;

“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 by the Authority to Mrs
Thompson dated 20 August 2020.


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


7.
Mrs Thompson has failed to pay the Overdue Balance and he has not been open
and co-operative in all her dealings with the Authority, in that Mrs Thompson 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 Thompson’s suitability,
lead the Authority to conclude that Mrs Thompson 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.


Laura Thompson (ML Car Sales trading as)
26 January 2021

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 Thompson 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 Mrs Thompson 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 Maria Lewis
at the Authority (direct line: 020 7066 0897).

Anna Couzens
Enforcement and Market Oversight Division