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FINAL NOTICE

To: Horse Insurance Services (Kerry Smith trading as)

FRN: 306036


Dated: 19 September 2023

ACTION

1.
For the reasons set out in this Final Notice, the Authority hereby takes the following
action against Horse Insurance Services (Kerry Smith trading as) (“Mrs Smith”).

2.
The Authority issued to Mrs Smith the Decision Notice which notified Mrs Smith that
for the reasons given below and pursuant to section 55J of the Act, the Authority
had decided to cancel Mrs Smith’s Part 4A permission.

3.
Mrs Smith has not referred the matter to the Tribunal within 28 days of the date on
which the Decision Notice was given to it.


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

DEFINITIONS

5.
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 by the Authority to Mrs
Smith dated 7 August 2023;

“the Overdue Balance” means the sum of £4,362.72 which was owed by Mrs Smith
to the Authority, comprising of four invoices dated between 24 August 2020 and 15
December 2021 for regulatory fees and levies and administrative fees for non-
submission of regulatory returns and firm details attestation, which had been due
for payment on various dates between 22 November 2020 and 16 November 2021;



Horse Insurance Services (Kerry Smith trading as) 19 September 2023
Final Notice

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

“Mrs Smith’ Part 4A permission” means the permission granted by the Authority to
Mrs Smith 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 by the Authority to Mrs
Smith dated 10 July 2023.

REASONS FOR THE ACTION

6.
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 Mrs Smith is
failing to satisfy the suitability Threshold Condition, in that the Authority is not
satisfied that Mrs Smith is a fit and proper person having regard to all the
circumstances, including whether Mrs Smith managed her business in such a way
as to ensure that her affairs were conducted in a sound and prudent manner.

7.
Mrs Smith has failed to pay the Overdue Balance and she has not been open and
co-operative in all her dealings with the Authority, in that Mrs Smith has failed to
respond to the Authority’s repeated requests for her to pay the Overdue Balance,
and has thereby failed to comply with Principle 11 of the Principles and to satisfy
the Authority that she is ready, willing and organised to comply with the
requirements and standards of the regulatory system.

8.
These failings, which are significant in the context of Mrs Smith’s suitability, lead
the Authority to conclude that Mrs Smith has failed to manage her business in such
a way as to ensure that her affairs are conducted in a sound and prudent manner,
that she is not a fit and proper person, and that she is therefore failing to satisfy
the Threshold Conditions in relation to the regulated activities for which she has
had a Part 4A permission.

DECISION MAKER

9.
The decision which gave rise to the obligation to give this Final Notice was made by
an Authority staff member under executive procedures.

IMPORTANT

10.
This Final Notice is given to Mrs Smith in accordance with section 390(1) of the Act.

Publicity

11.
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 Mrs Smith or prejudicial to the interest of consumers.




Horse Insurance Services (Kerry Smith trading as) 19 September 2023
Final Notice

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12.
The Authority intends to publish such information about the matter to which this
Final Notice relates as it considers appropriate.

Authority contact

13.
For more information concerning this matter generally, please contact Funmi Ojo
at the Authority (direct line: 020 7066 1354).





Jeremy Parkinson
Enforcement and Market Oversight Division