_____________________________________________________________________


FINAL NOTICE

_____________________________________________________________________

To:

Riaz Aslam Gul

Of:



170 Chorley Old Road




Bolton




BL1 3BA








FSA reference number:
513000


Dated:


31 July 2012

ACTION

1.
For the reasons set out in this Final Notice, the Financial Services Authority (the
“FSA”) hereby takes the following action against Riaz Aslam Gul (“Mr Gul”).

2.
The FSA gave Mr Gul a Decision Notice on 22 June 2012 (the “Decision Notice”)
which notified Mr Gul that for the reasons given below and pursuant to Regulation
10(1)(h) of the Payment Services Regulations 2009 (the “PSR”), the FSA had decided
to cancel the registration granted to Mr Gul as a small payment institution under the
PSR (“Mr Gul’s registration”).

3.
Mr Gul has not referred the matter to the Upper Tribunal (Tax and Chancery
Division) within 28 days of the date on which the Decision Notice was given to him.

4.
Accordingly, the FSA has today cancelled Mr Gul’s registration.

REASONS FOR ACTION

5.
On the basis of the facts and matters described in its Warning Notice dated 17 May
2012 (the “Warning Notice”), and in the Decision Notice, the FSA has concluded that
by failing to pay fees and levies owed to the FSA, and to respond adequately to the
FSA’s repeated requests that he does so, Mr Gul has failed to demonstrate a readiness

Riaz Aslam Gul
31 July 2012
Final Notice
Page 2

and willingness to comply with his regulatory obligations and to deal with the FSA in
an open and co-operative way. It is therefore desirable to cancel Mr Gul’s registration
as a small payment institution in order to protect the interests of consumers, in
accordance with Regulation 10(1)(h) of the PSR (as applied by Regulation 14).

6.
Mr Gul has failed to pay fees and levies totalling £559.60 owed to the FSA, and to
respond adequately to the FSA’s repeated requests that he does so.

DECISION MAKER

7.
The decision which gave rise to the obligation to give this Final Notice was made by
the Regulatory Decisions Committee.

8.
This Final Notice is given to Mr Gul in accordance with section 390(1) of the
Financial Services and Markets Act 2000 (the “Act”) (as applied by paragraph 7(b) of
Part 1 of Schedule 5 to the PSR).

PUBLICITY

9.
Sections 391(4), 391(6) and 391(7) of the Act (as applied by paragraph 7(c) of Part 1
of Schedule 5 of the PSR) 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 Mr Gul or prejudicial to the interests of
consumers.

10.
The FSA intends to publish such information about the matter to which this Final
Notice relates as it considers appropriate.

FSA CONTACT

11.
For more information concerning this matter generally, please contact Alexander
Banerjea (direct line: 020 7066 7206/fax: 020 7066 7207) at the FSA.




……………………………………………………..
John Kirby
FSA Enforcement and Financial Crime Division