FINAL NOTICE

Of:
The Laurels

Dated: 2 February 2017

ACTION

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

2.
The Authority issued to Mark Leaper the Decision Notice which notified him that
for the reasons given below and pursuant to section 55J of the Act, the Authority
had decided to cancel Mark Leaper’s Part 4A permission.

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

4.
Accordingly, the Authority has today cancelled Mark Leaper’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;

“the Decision Notice” means the Decision Notice issued to Mark Leaper dated 29
December 2016;

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

“the Returns” means the CCR-Complaints, CCR001 and CCR002 returns for the
period ended 5 April 2016, which Mark Leaper was due to submit to the Authority
by 18 May 2016;

“the suitability Threshold Condition” means the threshold condition stated at
parapgraph 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 Mark Leaper dated 6

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

7.
This is because Mark Leaper has failed to comply with the regulatory requirement
to submit the Returns. Mark Leaper has not been open and co-operative in all his
dealings with the Authority, in that he has failed to respond adequately to the
Authority's repeated requests for him to submit the Returns, and has thereby
failed to comply with Principle 11 of the Authority's Principles for Businesses and
to satisfy the Authority that he 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 Mark Leaper’s suitability,
lead the Authority to conclude that Mark Leaper 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 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 Mark Leaper 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 Mark Leaper 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