Final Notice

On , the Financial Conduct Authority issued a Final Notice to GB Financial Consultancy Limited



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

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

GBFCL 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 GBFCL’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;

“the Decision Notice” means the Decision Notice issued to GBFCL dated 4 May

“GBFCL” means GB Financial Consultancy Limited;

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

“RMAR” means the Retail Mediation Activities Return for the period ended 31

August 2015, which was due to be submitted by 12 October 2015;

“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 GBFCL dated 1 April 2016 and in the Decision Notice, it appears
to the Authority that GBFCL is failing to satisfy the Threshold Conditions, in that
the Authority is not satisfied that GBFCL is a fit and proper person having regard
to all the circumstances, including whether GBFCL managed its business in such a
way as to ensure that its affairs are conducted in a sound and prudent manner.

This is because GBFCL has failed to comply with the regulatory requirement to
submit the RMAR. GBFCL 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 RMAR, 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 GBFCL’s suitability, lead the
Authority to conclude that GBFCL 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 GBFCL 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 GBFCL 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 GBFCL 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 Prea Deans
at the Authority (direct line: 020 7066 2272).

John Kirby
Enforcement and Market Oversight Division


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