FINAL NOTICE

To:
Solutions on Call Limited

ACTION

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

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

3.
SOCL 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 SOCL’s Interim 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 given to SOCL dated 16
December 2015;

“the OFT” means the Office of Fair Trading;

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

“SOCL” means Solutions on Call Limited;


Solutions on Call Limited

21 January 2016
Final Notice
Page 2 of 3

“SOCL’s Interim Permission” means the interim permission obtained by SOCL on
1 April 2014 (following the transfer of consumer credit regulation from the OFT to
the Authority), which arose in accordance with article 56 of the Financial Services
and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 and
following the application by SOCL for interim permission on 31 March 2014;

“the suitability Threshold Condition” means the threshold condition set out in
paragraph 2E of Schedule 6 to the Act;

“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber); and

“the Warning Notice” means the Warning Notice given to SOCL dated 20
November 2015.

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 SOCL is failing
to satisfy the suitability Threshold Condition. That is because, in the opinion of
the Authority, SOCL has failed to ensure that its affairs are conducted in a sound
and prudent manner, and because its conduct has not met the requirements of
Principle 11 (Relations with regulators) of the Principles under which firms must
co-operate with the Authority.

7.
Specifically, SOCL has failed to deal with the Authority in an open and co-
operative way, in that SOCL has failed to provide information (primarily about the
nature of SOCL’s business activities) requested by the Authority, including failing
to comply with a Section 165 Requirement Notice issued to SOCL on 10
September 2015.

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 SOCL in accordance with section 390(1) of the Act.

Publicity

10.
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 SOCL or prejudicial to the interests of consumers.

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





Solutions on Call Limited

21 January 2016
Final Notice
Page 3 of 3

Contact

12.
For more information concerning this matter generally, please contact Donovan
Thorpe-Davis at the Authority (direct line: 020 7066 8678).





John Kirby
Enforcement and Market Oversight Division