FINAL NOTICE

Address:
38 Hamesmoor Way

ACTION

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



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


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


4.
Accordingly, the Authority has today cancelled Ms Singlehurst’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 Ms Singlehurst dated 2
May 2018;

“the Overdue Balance” means the amount owed by Ms Singlehurst to the Authority
of £2,522.54 comprising: an invoice for an administrative fee of £250 for late
submission of a regulatory return, which had been due for payment by 4 February
2017; an invoice for regulatory fees and levies £2,022.54, which was due for
payment by 14 September 2017; and an invoice for an administrative fee of £250
for late submission of a regulatory return, which had been due for payment by 5
October 2017;

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

“Ms Singlehurst’s Part 4A permission” means the permission granted by the

Authority to Ms Singlehurst pursuant to Part 4A of the Act;

“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 Ms Singlehurst dated 11
April 2018.

REASONS FOR THE 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 Ms Singlehurst is
failing to meet the suitability Threshold Condition, in that the Authority is not
satisfied that Ms Singlehurst is a fit and proper person having regard to all the
circumstances, including whether Ms Singlehurst managed her business in such a
way as to ensure that her affairs were conducted in a sound and prudent manner.


7.
Ms Singlehurst has failed to pay the Overdue Balance and she has not been open
and co-operative in all her dealings with the Authority, in that Ms Singlehurst has
failed to respond to the Authority’s repeated requests for her to pay the Overdue
Balance, and has thereby failed to comply with Principle 11 of the Principles and to
satisfy the Authority that she is ready, willing and organised to comply with the
requirements and standards of the regulatory system.


8.
These failures, which are significant in the context of Ms Singlehurst’s suitability,
lead the Authority to conclude that Ms Singlehurst has failed to manage her
business in such a way as to ensure that her affairs are conducted in a sound and
prudent manner, that she is not a fit and proper person, and that she is therefore
failing to satisfy the Threshold Conditions in relation to the regulated activities for
which she was granted a Part 4A 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 Ms Singlehurst 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 Ms Singlehurst 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 Funmi Ojo at
the Authority (direct line: 020 7066 1354).

Anna Couzens
Enforcement and Market Oversight Division