FINAL NOTICE

To:

WH Car Sales Limited

Of:
The Old Forge

Forge Lane

West Kingsdown

Sevenoaks

TN15 6JD



FRN: 621824

ACTION

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

2.
The Authority issued to WHCSL 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 WHCSL’s permission.

3.
WHCSL 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 WHCSL’s 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 WHCSL dated 15
December 2015;

“the Return” means the CCR007 return for the period ended 31 March 2015,
which was due to be submitted to the Authority by 15 May 2015;

“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);

“WHCSL” means WH Car Sales Limited; and

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


REASONS FOR ACTION

6.
On the basis of the facts and matters and conclusions described in its Warning
Notice issued to WHCSL dated 16 November 2015 and in the Decision Notice, it
appears to the Authority that WHCSL is failing to satisfy the Threshold Conditions,
in that the Authority is not satisfied that WHCSL is a fit and proper person having
regard to all the circumstances, including whether WHCSL managed its business
in such a way as to ensure that its affairs are conducted in a sound and prudent
manner.

7.
This is because WHCSL has failed to comply with the regulatory requirement to
submit the Return. WHCSL has not been open and co-operative in all its dealings
with the Authority, in that it 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 WHCSL’s suitability, lead the
Authority to conclude that WHCSL 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 WHCSL 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 WHCSL 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 WHCSL 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 Prea Deans
at the Authority (direct line: 020 7066 2272).

John Kirby
Enforcement and Market Oversight Division