FINAL NOTICE

To:

Choon Hee Patrick Tan trading as Mortgages Mortgages

ACTION

1.
For the reasons set out in this Final Notice, the Financial Services Authority (the
“FSA”) hereby takes the following action against Choon Hee Patrick Tan trading as
Mortgages Mortgages (“Mr Tan”).

2.
The FSA gave Mr Tan a Decision Notice on 10 May 2012 (the “Decision Notice”),
which notified Mr Tan 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 Mr Tan under Part IV of the Act (“Mr Tan’s Part IV
permission”).

3.
Mr Tan has not referred the matter to the Upper Tribunal (Tax and Chancery
Division) within 28 days of the date on which the Decision Notice was given to him.

4.
Accordingly, the FSA has today cancelled Mr Tan’s Part IV permission.

Choon Hee Patrick Tan trading as Mortgages Mortgages
12 June 2012
Final Notice

Page 2

REASONS FOR ACTION

5.
On the basis of the facts and matters and conclusions described in the Warning Notice
issued to Mr Tan dated 28 March 2012, and in the Decision Notice, it appears to the
FSA Mr Tan is failing to satisfy the threshold conditions set out in Schedule 6 to the
Act (the "Threshold Conditions").

6.
This is because Mr Tan has failed to pay regulatory fees and levies owed to the FSA
totalling £1,787.64 despite repeated FSA requests that he does so.

7.
This failing, which is significant in the context of Mr Tan’s suitability, led the FSA to
conclude that Mr Tan had not conducted his business soundly and prudently and in
compliance with proper standards and that he is not a fit and proper person, and that
Mr Tan is therefore failing to satisfy the Threshold Conditions in relation to the
regulated activities for which he 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 Mr Tan 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 Mr Tan or prejudicial
to the interests of consumers.

11.
The FSA intends to publish this Final Notice and 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 Anu Upadhya
at the FSA (direct line: 020 7066 9536/ fax: 020 7066 9537).

John Kirby
FSA Enforcement and Financial Crime Division