FINAL NOTICE

ACTION

1.
For the reasons set out in this Final Notice, the Authority hereby takes the
following action against Len Cooke Financial Consultants Limited (“LCFC”).


2.
The Authority gave LCFC a Decision Notice on 11 July 2013 (“the Decision
Notice”) which notified LCFC that for the reasons given below and pursuant to
section 55J of the Act, the Authority had decided to cancel the permission granted
to LCFC under the Act (“LCFC’s permission”).


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


4.
Accordingly, the Authority has today cancelled LCFC’s permission.

DEFINITIONS

5.
The definitions below are also used in this Final Notice:

“the Act” means the Financial Services and Markets Act 2000;

“the Authority” means the body corporate previously known as the Financial
Services Authority and renamed on 1 April 2013 as the Financial Conduct
Authority;

“the Overdue Balance” means regulatory fees and leives owed to the Authority
totalling £1,222.95;

“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).

REASONS FOR THE ACTION

6.
On the basis of the facts and matters and conclusions described in the Warning
Notice issued to LCFC dated 17 May 2013, and in the Decision Notice, it appears
to the Authority that LCFC is failing to satisfy the Threshold Conditions, in that
the Authority is not satisfied that LCFC is a fit and proper person having regard to
all the circumstances, including whether LCFC managed its business in such a
way as to ensure that its affairs are conducted in a sound and prudent manner.


7.
LCFC has failed to pay the Overdue Balance and it has not been open and co-
operative in all its dealings with the Authority, in that LCFC has failed to respond
to the Authority’s repeated requests for it to 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 it is ready, willing and organised to
comply with the requirements and standards under the regulatory system.


8.
These failures lead the Authority to conclude that LCFC has failed to manage its
business in such a way as to ensure that its affairs are conducted in a sound and
prudent manner, that it is not a fit and proper person, and that it is therefore
failing to satisfy the Threshold Conditions in relation to the regulated activities for
which LCFC 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 LCFC 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 LCFC 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.

Contact

13.
For more information concerning this matter generally, please contact Edward
Thompson at the Authority (direct line: 020 7066 3564).

John Kirby
Enforcement and Financial Crime Division