FINAL NOTICE

To:
The Skin Clinic + Hair Transplant Centre Limited

FRN: 676967

Dated: 19 February 2018

ACTION

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

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

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

4.
Accordingly, the Authority has today cancelled TSCHTCL’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 TSCHTCL dated 20
December 2017;

“the Return” means the CCR007 return for the period ended 31 January 2017,
which TSCHTCL was due to submit to the Authority by 14 March 2017;


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Final Notice
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“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);


“TSCHTCL” means The Skin Clinic + Hair Transplant Centre Limited;

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

“the Warning Notice” means the Warning Notice issued to TSCHTCL dated 27
November 2017.

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

7.
This is because TSCHTCL has failed to comply with the regulatory requirement to
submit the Return. TSCHTCL has not been open and co-operative in all its
dealings with the Authority, in that TSCHTCL has failed to respond adequately to
the Authority's repeated requests for it 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 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 TSCHTCL’s suitability, lead
the Authority to conclude that TSCHTCL 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 TSCHTCL 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 TSCHTCL in accordance with section 390(1) of the
Act.

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Final Notice Page 3

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 TSCHTCL 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 Antonella
Pavone at the Authority (direct line: 020 7066 5222).

Anna Couzens
Enforcement and Market Oversight Division