Final Notice

On , the Financial Conduct Authority issued a Final Notice to Edge Performance 10 Limited


Dated: 13 July 2016


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

The Authority issued to Edge Performance 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 Edge Performance’s permission.

Edge Performance 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 Edge Performance’s 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;

“the Decision Notice” means the Decision Notice issued to Edge Performance
dated 6 June 2016;

“Edge Performance” means Edge Performance 10 Limited;

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

“the Return” means the CCR007 return for the period ended 30 September 2015,
which Edge Performance was due to submit to the Authority by 11 November

“the suitability Threshold Condition” means the Threshold Condition set out in
paragraph 2E of Schedule 6 of the Act;

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

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


On the basis of the facts and matters and conclusions described in its Warning
Notice issued to Edge Performance dated 11 May 2016 and in the Decision Notice,
it appears to the Authority that Edge Performance is failing to satisfy the
suitability Threshold Condition, in that the Authority is not satisfied that Edge
Performance is a fit and proper person having regard to all the circumstances,
including whether Edge Performance managed its business in such a way as to
ensure that its affairs were conducted in a sound and prudent manner.

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

These failures, which are significant in the context of Edge Performance’s
suitability, lead the Authority to conclude that Edge Performance 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 Edge Performance 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 Edge Performance 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 Edge Performance or prejudicial to the interest of

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 Jade
Flaherty at the Authority (direct line: 020 7066 2072).

John Kirby
Enforcement and Market Oversight Division


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