FINAL NOTICE

To:
Simon Wood trading as Wood Associates Independent Financial

ACTION

1. For the reasons set out in this Final Notice, the Financial Services Authority (the “FSA”)
hereby takes the following action against Simon Wood trading as Wood Associates
Independent Financial Services (“Mr Wood”).

2. The FSA gave Mr Wood a Decision Notice on 20 June 2012 (the “Decision Notice”)
which notified Mr Wood 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 Mr Wood under Part IV of the Act (“Mr Wood’s Part IV
permission”).

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

4. Accordingly, the FSA has today cancelled Mr Wood’s Part IV permission.


Simon Wood trading as Wood Associates Independent Financial Services
25 July 2012
Final Notice Page 2 of 3

REASONS FOR ACTION

5. On the basis of the facts and matters and conclusions described in its Warning Notice
issued to Mr Wood dated 10 May 2012 (the “Warning Notice”), and in the Decision
Notice, it appears to the FSA that Mr Wood is failing to satisfy the threshold conditions
set out in Schedule 6 to the Act (the “Threshold Conditions”) in that the FSA is not
satisfied that Mr Wood is a fit and proper person having regard to all the circumstances,
including the need to ensure that his business is conducted soundly and prudently.

6. This is because Mr Wood has failed to comply with the regulatory requirement to submit
his Retail Mediation Activities Return for the period ended 31 December 2011 (the
“RMAR”). Mr Wood has not been open and co-operative in all of his dealings with the
FSA, in that he has failed to respond to the FSA's repeated requests for him to submit the
RMAR, and has thereby failed to comply with Principle 11 of the FSA's Principles for
Businesses and to satisfy the FSA that he is ready, willing and organised to comply with
the requirements and standards under the regulatory system.

7. These failures, which are significant in the context of Mr Wood’s suitability, lead the
FSA to conclude that Mr Wood is not conducting his business soundly and prudently and
in compliance with proper standards, 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 he has had Part IV permission.

DECISION MAKER

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

IMPORTANT

9. This Final Notice is given to Mr Wood in accordance with section 390(1) of the Act.

Publicity

10. 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 Mr Wood or prejudicial to the interests of
consumers.

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





Simon Wood trading as Wood Associates Independent Financial Services
25 July 2012
Final Notice Page 3 of 3

FSA Contact

12. For more information concerning this matter generally, you should contact Kathryn Willis
at the FSA (direct line: 020 7066 2098/fax: 020 7066 2099).

John Kirby
FSA Enforcement and Financial Crime Division