Final Notice

On , the Financial Conduct Authority issued a Final Notice to Best Broker Ltd



Best Broker Ltd


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

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

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

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


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;

“BBL” means Best Broker Ltd;

“BBL’s Part 4A permission” means the permission granted by the Authority to BBL

pursuant to Part 4A of the Act;

“the Decision Notice” means the Decision Notice issued to BBL dated 21 September

“the Overdue Balance” means the amount owed by BBL to the Authority comprising
an invoice dated 12 August 2016 for £1,244.76 for regulatory fees and levies for
the period 1 April 2016 to 31 March 2017, which was due for payment by 25
September 2016;

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

“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 BBL dated 23 August


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

BBL has failed to pay the Overdue Balance and it has not been open and co-
operative in all its dealings with the Authority, in that BBL has failed to respond to
the Authority’s repeated requests for it to pay the Overdue Balance, and has
thereby failed to comply with Principle 11 of the Principles 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 BBL’s suitability, lead the
Authority to conclude that BBL 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 it has had a 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 BBL under section 55Z and 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 BBL 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 Funmi Ojo at
the Authority (direct line: 020 7066 1354).

Anna Couzens
Enforcement and Market Oversight Division


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