FINAL NOTICE

ACTION

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

2.
The Authority issued to Manchester Plumbing 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 Manchester Plumbing’s permission.

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

4.
Accordingly, the Authority has today cancelled Manchester Plumbing’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 Manchester Plumbing
dated 15 December 2015;

“Manchester Plumbing” means Manchester Plumbing Supplies Limited;

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

“the Return” means the CCR007 return for the period ended 31 March 2015,
which was due to be submitted to the Authority by 15 May 2015;

“the Threshold Conditions” means the threshold conditions set out in Schedule 6
to the Act; and

“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber).

REASONS FOR ACTION

6.
On the basis of the facts and matters and conclusions described in its Warning
Notice issued to Manchester Plumbing dated 16 November 2015 and in the
Decision Notice, it appears to the Authority that Manchester Plumbing is failing to
satisfy the Threshold Conditions, in that the Authority is not satisfied that
Manchester Plumbing is a fit and proper person having regard to all the
circumstances, including whether Manchester Plumbing managed its business in
such a way as to ensure that its affairs are conducted in a sound and prudent
manner.

7.
This is because Manchester Plumbing has failed to comply with the regulatory
requirement to submit the Return. Manchester Plumbing has not been open and
co-operative in all its dealings with the Authority, in that it has failed to respond
adequately to the Authority's repeated requests for Manchester Plumbing to
submit the Return, 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, which are significant in the context of Manchester Plumbing’s
suitability, lead the Authority to conclude that Manchester Plumbing 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 Manchester Plumbing 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 Manchester Plumbing 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 Manchester Plumbing 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 Prea Deans
at the Authority (direct line: 020 7066 2272).

John Kirby
Enforcement and Market Oversight Division