FINAL NOTICE

To:

Ray Alexander Wilson

Dated: 26 January 2016

ACTION

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

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

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

4.
Accordingly, the Authority has today cancelled Mr Wilson’s permission.

DEFINITIONS

5.
The definitions below are used in this Final Notice:

“the Act” means the Financial Services and Markets Act 2000;

Ray Alexander Wilson

26 January 2016
Final Notice Page 2

“the Authority” means the Financial Conduct Authority;

“the Decision Notice” means the Decision Notice given to Mr Wilson dated 17
December 2015;

“Mr Wilson” means Ray Alexander Wilson;

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

“the Return” means the CCR007 return for the period ended 31 March 2015,
which was due to be submitted to the Authority by 15 May 2015;

“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 Mr Wilson dated 19 November 2015 and in the Decision Notice, it
appears to the Authority that Mr Wilson is failing to satisfy the Threshold
Conditions, in that the Authority is not satisfied that Mr Wilson is a fit and proper
person having regard to all the circumstances, including whether Mr Wilson
managed his business in such a way as to ensure that his affairs are conducted in
a sound and prudent manner.

7.
This is because Mr Wilson has failed to comply with the regulatory requirement to
submit the Return. Mr Wilson has not been open and co-operative in all his
dealings with the Authority, in that he has failed to respond adequately to the
Authority's repeated requests for him 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 he 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 Mr Wilson’s suitability, lead
the Authority to conclude that Mr Wilson has failed to manage his business in
such a way as to ensure that his affairs are conducted in a sound and prudent
manner, that he is not a fit and proper person, and that he is therefore failing to
satisfy the Threshold Conditions in relation to the regulated activities for which Mr
Wilson 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 Mr Wilson 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 Mr Wilson 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 Prea Deans
at the Authority (direct line: 020 7066 2272).

John Kirby
Enforcement and Market Oversight Division