FINAL NOTICE

Dated: 4 May 2016

ACTION

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

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

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

4. Accordingly, the Authority has today cancelled Motoassist’s 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 Motoassist dated 22 March
2016;

“Motoassist” means Motoassist UK Limited;

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

“the Return” means the CCR007 return for the period ended 15 July 2015, which
Motoassist was due to submit to the Authority by 26 August 2015;

“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; and

“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber).

REASONS FOR ACTION

6.
On the basis of the facts and matters and conclusions described in its Warning Notice
issued to Motoassist dated 16 February 2016 and in the Decision Notice, it appears to
the Authority that Motoassist is failing to satisfy the suitability Threshold Condition, in
that the Authority is not satisfied that Motoassist is a fit and proper person having
regard to all the circumstances, including whether Motoassist managed its business in
such a way as to ensure that its affairs were conducted in a sound and prudent manner.

7.
This is because Motoassist has failed to comply with the regulatory requirement to
submit the Return. Motoassist has not been open and co-operative in all its dealings
with the Authority, in that Motoassist has failed to respond adequately to the
Authority's repeated requests for it to submit the Return, and has thereby failed to
comply with Principle 11 of the Authority's Principles for Businesses and to satisfy the
Authority that it 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 Motoassist’s suitability, lead the
Authority to conclude that Motoassist has failed to manage its business in such a way
as to ensure that its affairs are conducted in a sound and prudent manner, 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 Motoassist 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 Motoassist 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

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publish information if such publication would, in the opinion of the Authority, be unfair
to Motoassist 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 Jade Flaherty at
the Authority (direct line: 020 7066 2072).

John Kirby
Enforcement and Market Oversight Division