FINAL NOTICE

To:


Response 360 Ltd

ACTION

1.
For the reasons set out in this Final Notice, the Authority hereby takes the
following action against Response 360.


2.
The Authority issued to Response 360 the Decision Notice which notified
Response 360 that for the reasons given below and pursuant to section 55J of the
Act, the Authority had decided to cancel Response 360’s Part 4A permission.


3.
Response 360 has not referred the matter to the Tribunal within 28 days of the
date on which the Decision Notice was given to it.


4.
Accordingly, the Authority has today cancelled Response 360’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 Response 360 dated 12
October 2016;

“the Overdue Balance” means the amount owed by Response 360 to the Authority
totalling £1,065.83, comprising: an invoice dated 11 November 2014 in respect of
periodic fees and levies for £370.83, which was due for payment by 11 December
2014; an invoice dated 18 June 2015 in respect of an administrative fee for £250
for late submission of a consumer credit return for the period ended by 28
February 2015; and an invoice dated 16 October 2015 in respect of periodic fees
and levies for £445, which was due for payment by 15 November 2015;

“the Principles” means the Authority’s Principles for Businesses;

“Response 360” means Response 360 Ltd;

“Response 360’s Part 4A permission” means the permission granted by the
Authority to Response 360 under the Act;

“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 Response 360 dated 19
September 2016.

REASONS FOR THE 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 Response 360
is failing to satisfy the suitability Threshold Condition, in that the Authority is not
satisfied that Response 360 is a fit and proper person having regard to all the
circumstances, including whether Response 360 managed its business in such a
way as to ensure that its affairs were conducted in a sound and prudent manner.


7.
Response 360 has failed to pay the Overdue Balance and has not been open and
co-operative in all its dealings with the Authority, in that Response 360 has failed
to respond to the Authority’s repeated requests for it to pay the Overdue Balance,
and has thereby failed to comply with Principle 11 of the Principles 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 Response 360’s suitability,
lead the Authority to conclude that Response 360 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 Response 360 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 Response 360 under section 55Z and 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 Response 360 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