FINAL NOTICE

ACTION

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

2.
The Authority issued to TIBL 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 TIBL’s Part 4A permission.

3.
TIBL 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 TIBL’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 TIBL dated 1 December
2020;

“EG” means the Authority’s Enforcement Guide;

“the Handbook” means the Authority’s Handbook of rules and guidance;

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

“SUP” means the Supervision Manual, part of the Handbook;



“the Threshold Conditions” means the threshold conditions set out in Schedule 6 to
the Act;

“TIBL” means Triton Insurance Brokers Ltd;

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

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

“the Warning Notice” means the Warning Notice given to TIBL dated 5 November
2020.

REASONS FOR ACTION

6.
By a First Supervisory Notice dated 17 February 2020, TIBL’s Part 4A permission
was varied by removing all regulated activities with immediate effect.

7.
Section 55J(8) of the Act provides that, if as a result of a variation of a Part 4A
permission under section 55J, there are no longer any regulated activities for which
the authorised person concerned has permission, the Authority must, once it is
satisfied that it is no longer necessary to keep the permission in force, cancel it.

8.
The Authority is so satisfied and accordingly has a duty to cancel TIBL’s Part 4A
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 TIBL 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 TIBL 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 Yasmin
Moore at the Authority (direct line: 020 7066 5439).

Anna Couzens
Enforcement and Market Oversight Division