Final Notice

On , the Financial Conduct Authority issued a Final Notice to Grove Car Centre Limited



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

The Authority issued to GCCL 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 GCCL’s Part 4A permission.

GCCL 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 GCCL’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 GCCL dated 18 July

“GCCL” means Grove Car Centre Limited;

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

“the Return” means the CCR007 return for the period ended 31 July 2017, which
GCCL was due to submit to the Authority by 12S eptember 2018;

“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 GCCL dated 27 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 GCCL is failing
to satisfy the suitability Threshold Condition, in that the Authority is not satisfied
that GCCL is a fit and proper person having regard to all the circumstances,
including whether GCCL managed its business in such a way as to ensure that its
affairs were conducted in a sound and prudent manner.

This is because GCCL has failed to comply with the regulatory requirement to
submit the Return. GCCL has not been open and co-operative in all its dealings
with the Authority, in that GCCL 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 GCCL’s suitability, lead the
Authority to conclude that GCCL 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 GCCL 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 GCCL 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 GCCL 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 Jacqui
Dankyi at the Authority (direct line: 020 7066 2102).

Anna Couzens
Enforcement and Market Oversight Division


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