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 MPC Mortgage Services Limited
(“MPC”).

2.
The FSA gave MPC a Decision Notice on 6 July 2012 (the “Decision Notice”), which
notified MPC 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 MPC under Part IV of the Act (“MPC’s Part IV
permission”).

3.
On 3 August 2012, MPC referred the Decision Notice to the Upper Tribunal (Tax and
Chancery Chamber) (the “Upper Tribunal”).

4.
On 29 August 2012, MPC withdrew its Reference to the Upper Tribunal.

5.
On 30 August 2012, the Upper Tribunal consented to the withdrawal of MPC’s
Reference.

6.
Accordingly, the FSA has today cancelled MPC’s Part IV permission.

REASONS FOR ACTION

7.
On the basis of the facts and matters and conclusions described in the Warning Notice
issued to MPC dated 9 May 2012, and in the Decision Notice, it appears to the FSA
that MPC is failing to satisfy the threshold conditions set out in Schedule 6 to the Act
(the “Threshold Conditions”).

8.
This is because MPC has failed to pay regulatory fees and levies owed to the FSA
totalling £1,177.77 despite repeated FSA requests that it does so.

9.
This failing, which is significant in the context of MPC’s suitability, lead the FSA to
conclude that MPC is not conducting its business soundly and prudently and in
compliance with proper standards and that it is not a fit and proper person, and that
MPC is therefore failing to satisfy the Threshold Conditions in relation to the
regulated activities for which it has had Part IV permission.

DECISION MAKER

10.
The decision which gave rise to the obligation to give this Final Notice was made by
the Regulatory Decisions Committee.

11.
This Final Notice is given to MPC in accordance with section 390(1) of the Act.

PUBLICITY

12.
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 MPC or prejudicial to
the interests of consumers.

13.
The FSA intends to publish this Final Notice and such information about the matter to
which this Final Notice relates as it considers appropriate.



FSA CONTACT

14.
For more information concerning this matter generally, please contact Stephanie
Prowse at the FSA (direct line: 020 7066 9404 / fax: 020 7066 9405).





John Kirby
FSA Enforcement and Financial Crime Division