Final Notice

On , the Financial Conduct Authority issued a Final Notice to Auto Planet London Limited


Of: 79-81 Cobbold Road
E11 3NS

FRN: 765261

Dated: 24 September 2020


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

The Authority issued APLL 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 APLL’s Part 4A permission.

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

Accordingly, the Authority has today cancelled APLL’s Part 4A permission.


The definitions below are used in this Final Notice:

“the Act” means the Financial Services and Markets Act 2000;

“APLL” means Auto Planet London Limited;

“the Authority” means the Financial Conduct Authority;

“the Decision Notice” means the Decision Notice issued APLL dated 23 July

“the Return” means the CCR003 Consumer credit data (Lenders) and CCR007
Consumer Credit data returns for the period ended 30 April 2019, which APLL was
due to submit to the Authority by 13 June 2019;

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

“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); and

“the Warning Notice” means the Warning Notice issued to APLL dated 23 June


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

This is because APLL has failed to comply with the regulatory requirement to submit
the Return. APLL has not been open and co-operative in all its dealings with the
Authority, in that APLL 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.

These failures, which are significant in the context of APLL’s suitability, lead the
Authority to conclude that APLL 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 APLL was granted a Part
4A permission.


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


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


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 APLL or prejudicial to the interest of consumers.

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

Authority Contact

For more information concerning this matter generally, please contact Victoria
Oyebanjo at the Authority (direct line: 020 706 64564).

Martin Butcher
Enforcement and Market Oversight Division


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