FINAL NOTICE

ACTION

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

2.
The Authority gave Mark Cleaver the Decision Notice, which notified Mark Cleaver
that, for the reasons given below and pursuant to section 55J of the Act, the
Authority had decided to cancel the permission granted to Mark Cleaver under
Part 4A of the Act.

3.
Mark Cleaver 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 Mark Cleaver’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 body corporate previously known as the Financial
Services Authority and renamed on 1 April 2013 as the Financial Conduct
Authority;


“the Decision Notice” means the Decision Notice issued to Mark Cleaver on 6 July
2015;



“Mark Cleaver’s Part 4A permission” means the permission granted to Mark
Cleaver pursuant to Part 4A of the Act;

“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 THE ACTION

6.
On the basis of the facts and matters and conclusions described in the Warning
Notice issued to Mark Cleaver on 9 June 2015, and in the Decision Notice, it
appears to the Authority that Mark Cleaver is failing to satisfy the suitability
threshold condition, in that the Authority is not satisfied that Mark Cleaver is a fit
and proper person having regard to all the circumstances.

7.
Mark Cleaver has failed to notify the Authority of a change in the address and
telephone number of his principal place of business and has failed to deal openly
and co-operatively with the Authority (in not providing up-to-date contact details
and in not disclosing the acquisition of his book of business by another firm).

DECISION MAKER

8.
The decision which gave rise to the obligation to give this Final Notice was made
by an Acting Deputy Chairman of the Regulatory Decisions Committee.

IMPORTANT

9.
This Final Notice is given to Mark Cleaver in accordance with section 390(1) of the
Act.

10.
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 information would, in the opinion of
the Authority, be unfair to Mark Cleaver or prejudicial to the interests of
consumers.

11.
The Authority intends to publish such information about the matter to which this
Final Notice relates as it considers appropriate.

12.
For more information concerning this matter generally, please contact Carla
Wevill at the Authority (direct line: 020 7066 1958).

John Kirby
Enforcement and Market Oversight Division