FINAL NOTICE

Of: Network Planning Solutions
Storefast
Park Corner Road
Betsham
Kent
DA13 9LJ

FRN: 805072

Dated: 28 May 2020


ACTION

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

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

3.
NCL 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 NCL’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 NCL dated 1 April
2020;

“NCL” means NPS Commercials Ltd;

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

“the Return” means the CCR007 return for the period ended 31 January 2019,
which NCL was due to submit to the Authority by 14 March 2019;

“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 NCL dated 4 March
2020.


REASONS FOR 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 NCL is failing to
satisfy the suitability Threshold Condition, in that the Authority is not satisfied that
NCL is a fit and proper person having regard to all the circumstances, including
whether NCL 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 NCL has failed to comply with the regulatory requirement to submit
the Return. NCL has not been open and co-operative in all its dealings with the
Authority, in that NCL 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 NCL’s suitability, lead the
Authority to conclude that NCL 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 NCL 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 NCL 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 NCL 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 Victoria
Oyebanjo at the Authority (direct line: 020 706 64564).

Martin Butcher
Enforcement and Market Oversight Division