FINAL NOTICE

Dated: 21 November 2016


ACTION

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

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

3.
MailServe has not referred the matter to the Tribunal within 28 days of the date
on which the Decision Notice was issued to MailServe.

4.
Accordingly, the Authority has today cancelled MailServe’s 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 MailServe dated 5
October 2016;

“MailServe” means MailServe Limited;

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

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

“the Return” means the CCR007 return for the period ended 31 December 2015,
which MailServe was due to submit to the Authority by 12 February 2016;

“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 MailServe dated 14
September 2016.

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

7.
This is because MailServe has failed to comply with the regulatory requirement to
submit the Return. MailServe has not been open and co-operative in all its
dealings with the Authority, in that MailServe has failed to respond adequately to
the Authority's repeated requests for it to submit the Return, 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 under the regulatory system.

8.
These failures, which are significant in the context of MailServe’s suitability, lead
the Authority to conclude that MailServe 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 MailServe 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 MailServe 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 MailServe 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 Namrata
Kanzaria at the Authority (direct line: 020 7066 9026).

John Kirby
Enforcement and Market Oversight Division