FINAL NOTICE

ACTION

1. For the reasons set out in this Final Notice, the Financial Services Authority (the “FSA”)
hereby takes the following action against Mortgage & Finance Professionals.

2. The FSA gave Mortgage & Finance Professionals a Decision Notice on 17 September
2012 (the “Decision Notice”) which notified it that for the reasons given below and
pursuant to section 45 of the Financial Services and Markets Act 2000 (the “Act”), the
FSA had decided to cancel the permission granted to Mortgage & Finance Professionals
under Part IV of the Act (“Mortgage & Finance Professionals’ Part IV permission”).

3. Mortgage & Finance Professionals has not referred the matter to the Upper Tribunal (Tax
and Chancery Chamber) within 28 days of the date on which the Decision Notice was
given to it.

4. Accordingly, the FSA has today cancelled Mortgage & Finance Professionals’ Part IV
permission.


REASONS FOR ACTION

5. On the basis of the facts and matters and conclusions described in the Warning Notice
issued to Mortgage & Finance Professionals dated 10 August 2012 (the “Warning
Notice”), and in the Decision Notice, it appears to the FSA that Mortgage & Finance
Professionals is failing to satisfy the threshold conditions set out in Schedule 6 to the Act
(the “Threshold Conditions”) in that the FSA is not satisfied that Mortgage & Finance
Professionals is a fit and proper person having regard to all the circumstances, including
the need to ensure that its business is conducted soundly and prudently.

6. This is because Mortgage & Finance Professionals has failed to comply with the
regulatory requirement to submit its Retail Mediation Activities Return for the period
ended 5 April 2012 (the “RMAR”). Mortgage & Finance Professionals has not been open
and co-operative in all its dealings with the FSA, in that it has failed to respond to the
FSA's repeated requests for it to submit the RMAR, and has thereby failed to comply with
Principle 11 of the FSA's Principles for Businesses and to satisfy the FSA that it is ready,
willing and organised to comply with the requirements and standards under the regulatory
system.

7. These failures, which are significant in the context of Mortgage & Finance Professionals’
suitability, lead the FSA to conclude that Mortgage & Finance Professionals is not
conducting its business soundly and prudently and in compliance with proper standards,
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 it has had Part IV permission.

DECISION MAKER

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

9. This Final Notice is given to Mortgage & Finance Professionals in accordance with
section 390(1) of the Act.

PUBLICITY

10. Sections 391(4), 391(6) and 391(7) of the Act apply to the publication of information
about the matter to which this Final Notice relates. Under those provisions, the FSA must
publish such information about the matter to which this Final Notice relates as the FSA
considers appropriate. The information may be published in such manner as the FSA
considers appropriate. However, the FSA may not publish information if such publication
would, in the opinion of the FSA, be unfair to Mortgage & Finance Professionals or
prejudicial to the interests of consumers.

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





FSA Contact

12. For more information concerning this matter generally, you should contact Evan
Cheminais at the FSA (direct line: 020 7066 7232/fax: 020 7066 6677).

John Kirby
FSA Enforcement and Financial Crime Division