Final Notice
On , the Financial Conduct Authority issued a Final Notice to Lee Elrick, Autopoint Aberdeen
1
FINAL NOTICE
To:
Lee Elrick (Trading as Autopoint Aberdeen)
FRN:
759313
Dated:
27 July 2023
ACTION
1.
For the reasons set out in this Final Notice, the Authority hereby takes the following
action against Lee Elrick (“Mr Elrick”).
2.
The Authority issued to Mr Elrick the Decision Notice which notified Mr Elrick that
for the reasons given below and pursuant to section 55J of the Act, the Authority
had decided to cancel Mr Elrick’s Part 4A permission.
3.
Mr Elrick has not referred the matter to the Tribunal within 28 days of the date on
which the Decision Notice was given to him.
4.
Accordingly, the Authority has today cancelled Mr Elrick’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;
Lee Elrick
27 July 2023
Final Notice
2
“the Decision Notice” means the Decision Notice issued by the Authority to Mr Elrick
dated 17 May 2023;
“the Overdue Balance” means the outstanding sum of £1,679.38 owed by Mr Elrick
to the Authority comprising: an invoice dated 6 November 2019 for regulatory fees
and levies of £1,188.08 for the period 1 April 2019 to 31 March 2020, which was
due for payment by 6 December 2019; and an invoice dated 7 October 2020 for
regulatory fees and levies of £491.30 for the period 1 April 2020 to 31 March 2021,
which was due for payment by 5 January 2021.
“the Principles” means the Authority’s Principles for Business;
“Mr Elrick” means Lee Elrick (Trading as Autopoint Aberdeen);
“Mr Elrick’s Part 4A permission” means the permission granted by the Authority to
Lee Elrick pursuant to Part 4A of the Act;
“the suitability Threshold Condition” means the threshold condition set out in
paragraph 2E of Schedule 6 of 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 Mr Elrick
dated 18 April 2023.
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 Mr Elrick is failing
to satisfy the suitability Threshold Condition, in that the Authority is not satisfied
that Mr Elrick is a fit and proper person having regard to all the circumstances,
including whether Mr Elrick managed his business in such a way as to ensure that
his affairs were conducted in a sound and prudent manner.
7.
Mr Elrick has failed to pay the Overdue Balance and has not been open and co-
operative in all his dealings with the Authority, in that Mr Elrick has failed to respond
to the Authority’s repeated requests to pay the Overdue Balance and has thereby
failed to comply with Principle 11 of the Principles and to satisfy the Authority that
it is ready, willing and organised to comply with the requirements and standards of
the regulatory system.
8.
These failings, which are significant in the context of Mr Elrick’s suitability, lead the
Authority to conclude that Mr Elrick 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 he has had a
Part 4A permission.
DECISION MAKER
9.
The decision which gave rise to the obligation to give this Final Notice was made
by an Authority staff member under executive procedures.
IMPORTANT
10.
This Final Notice is given to Mr Elrick in accordance with section 390(1) of the Act.
Lee Elrick
27 July 2023
Final Notice
3
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 Mr Elrick 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 Loktuz
Zaman at the Authority (direct line: +44 20 7066 0601).
Jeremy Parkinson
Enforcement and Market Oversight Division
FINAL NOTICE
To:
Lee Elrick (Trading as Autopoint Aberdeen)
FRN:
759313
Dated:
27 July 2023
ACTION
1.
For the reasons set out in this Final Notice, the Authority hereby takes the following
action against Lee Elrick (“Mr Elrick”).
2.
The Authority issued to Mr Elrick the Decision Notice which notified Mr Elrick that
for the reasons given below and pursuant to section 55J of the Act, the Authority
had decided to cancel Mr Elrick’s Part 4A permission.
3.
Mr Elrick has not referred the matter to the Tribunal within 28 days of the date on
which the Decision Notice was given to him.
4.
Accordingly, the Authority has today cancelled Mr Elrick’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;
Lee Elrick
27 July 2023
Final Notice
2
“the Decision Notice” means the Decision Notice issued by the Authority to Mr Elrick
dated 17 May 2023;
“the Overdue Balance” means the outstanding sum of £1,679.38 owed by Mr Elrick
to the Authority comprising: an invoice dated 6 November 2019 for regulatory fees
and levies of £1,188.08 for the period 1 April 2019 to 31 March 2020, which was
due for payment by 6 December 2019; and an invoice dated 7 October 2020 for
regulatory fees and levies of £491.30 for the period 1 April 2020 to 31 March 2021,
which was due for payment by 5 January 2021.
“the Principles” means the Authority’s Principles for Business;
“Mr Elrick” means Lee Elrick (Trading as Autopoint Aberdeen);
“Mr Elrick’s Part 4A permission” means the permission granted by the Authority to
Lee Elrick pursuant to Part 4A of the Act;
“the suitability Threshold Condition” means the threshold condition set out in
paragraph 2E of Schedule 6 of 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 Mr Elrick
dated 18 April 2023.
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 Mr Elrick is failing
to satisfy the suitability Threshold Condition, in that the Authority is not satisfied
that Mr Elrick is a fit and proper person having regard to all the circumstances,
including whether Mr Elrick managed his business in such a way as to ensure that
his affairs were conducted in a sound and prudent manner.
7.
Mr Elrick has failed to pay the Overdue Balance and has not been open and co-
operative in all his dealings with the Authority, in that Mr Elrick has failed to respond
to the Authority’s repeated requests to pay the Overdue Balance and has thereby
failed to comply with Principle 11 of the Principles and to satisfy the Authority that
it is ready, willing and organised to comply with the requirements and standards of
the regulatory system.
8.
These failings, which are significant in the context of Mr Elrick’s suitability, lead the
Authority to conclude that Mr Elrick 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 he has had a
Part 4A permission.
DECISION MAKER
9.
The decision which gave rise to the obligation to give this Final Notice was made
by an Authority staff member under executive procedures.
IMPORTANT
10.
This Final Notice is given to Mr Elrick in accordance with section 390(1) of the Act.
Lee Elrick
27 July 2023
Final Notice
3
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 Mr Elrick 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 Loktuz
Zaman at the Authority (direct line: +44 20 7066 0601).
Jeremy Parkinson
Enforcement and Market Oversight Division