Decision Notice
On , the Financial Conduct Authority issued a Decision Notice to Mr Ian Slinger
1
NOTICE OF DECISION
To:
Mr Ian Slinger
ACTION
1.
For the reasons given below, the Authority has decided to cancel Mr Slinger’s Part 4A
permission. The cancellation takes effect on the date of this Notice of Decision.
2.
The effect of the cancellation is that Mr Slinger no longer has permission to carry on any
regulated activities.
DEFINITIONS
3.
The definitions below are used in this Notice of Decision (and in the Annex):
“the Act” means the Financial Services and Markets Act 2000;
“the Authority” means the Financial Conduct Authority;
“Directory Persons Attestation” means the report which an SMCR firm (as defined in the
Handbook) is required to submit to the Authority in accordance under SUP 16.26;
“DISP” means the Authority’s Dispute Resolution: Complaint’s sourcebook, part of the
Handbook;
2
“EG” means the Enforcement Guide;
“FDA” means the Firm Details Attestation which Authority-authorised firms are required to
submit to the Authority under SUP 16.10;
“the Further Notice” means the further notice issued by the Authority to Mr Slinger dated 10
August 2023;
“the Handbook” means the Authority’s Handbook of rules and guidance;
“the Notice” means the notice issued by the Authority to Mr Slinger dated 3 July 2023;
“Mr Slinger” means Mr Ian Richard Slinger;
“Mr Slinger’s Part 4A permission” means the Part 4A permission granted by the Authority to
Mr Slinger;
“Part 4A permission” means permission to conduct regulated activities, granted by the
Authority under Part 4A of the Act;
“RAG” means regulated activity group as referred to in SUP;
“the Returns” means the Complaints and Non-Retail Mediation Activities returns in relation to
the period from 6 April 2019 to 05 April 2023 which were due for submission on various dates
between 20 May 2020 to 23 May 2023;
“SUP” means the Supervision Manual, part of the Handbook; and
“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber).
FACTS AND MATTERS:
4.
Mr Slinger was authorised by the Authority on 6 April 2016 and given a Part 4A permission to
conduct the following regulated activities:
•
advising on investments (except on Pension Transfers and Pension Opt Outs);
•
advising on Pension Transfers and Pension Opt Outs;
•
agreeing to carry on a regulated activity;
•
arranging (bringing about) deals in investments; and
•
making arrangements with a view to transactions in investments;
5.
Under SUP 16.3.13R(1), SUP 16.3.13R(4), SUP 16.12.4R and 16.12.28AR (and the further
rules specified therein) in Chapter 16 of SUP and DISP 1.10.1R, Mr Slinger is required to submit
the Returns to the Authority by the relevant due date. However, Mr Slinger has failed to submit
the Returns to the Authority. The Authority therefore considers that Mr Slinger has failed to
provide information to the Authority as is required by the Handbook, namely the information it
is required to provide in the Returns.
6.
Under SUP 16.10.4R, 16.10.4AR and 16.10.4AAR, Mr Slinger is required to submit the FDA to
the Authority by the relevant due date. However, Mr Slinger has failed to submit the FDA to
the Authority. The Authority therefore considers that Mr Slinger has failed to provide
3
information to the Authority as is required by the Handbook, namely the information it is
required to provide in the FDA.
7.
Under SUP 16.26.18R to 16.26.20R, Mr Slinger is required to submit the the Directory Persons
Attestation to the Authority within the relevant period. However, Mr Slinger has failed to submit
the Directory Persons Attestation to the Authority.
8.
On 3 July 2023, the Authority gave Mr Slinger the Notice which stated that:
(a)
it appears to the Authority that Mr Slinger is carrying on no regulated activity to which
its Part 4A permission relates; and
(b)
the Authority may take action to cancel Mr Slinger’s Part 4A permission unless it responds
to the Notice in the manner specified in the directions to the Notice.
9.
Mr Slinger failed to respond in the manner specified in the directions to the Notice.
10.
As a result of the matters specified above, on 10 August 2023, the Authority gave Mr Slinger
the Further Notice which stated that:
a) the Authority considered that Mr Slinger is carrying on no regulated activity to which its
Part 4A permission relates; and
b) the Authority proposes to cancel Mr Slinger’s Part 4A permission on 8 September 2023
unless Mr Slinger takes the steps specified in the directions to the Further Notice.
11.
Mr Slinger failed to take the steps specified in the Further Notice.
CANCELLATION OF PART 4A PERMISSION
12.
From the facts and matters described above, and having regard to paragraph 1(3) of Schedule
6A to the Act, the Authority considers that Mr Slinger is carrying on no regulated activity to
which its Part 4A permission relates. The Authority has therefore decided to cancel Mr Slinger’s
Part 4A permission. The cancellation of Mr Slinger’s Part 4A permission takes effect on the date
of this Notice of Decision.
13.
The statutory and regulatory provisions relevant to this Notice of Decision are set out in the
Annexes.
PROCEDURAL MATTERS
14.
This Notice of Decision is given to Mr Slinger under paragraph 3 of Schedule 6A to the Act
(variation or cancellation of Part 4A permission on initiative of FCA: additional power).
The following paragraphs are important.
Annulment of the Authority’s decision
15.
If Mr Slinger is aggrieved by the decision to cancel its Part 4A permission as set out in this
Notice of Decision, Mr Slinger may make an application for an annulment of the Authority’s
decision under paragraph 4 of Schedule 6A to the Act.
16.
Mr Slinger must submit a completed application for an annulment of the Authority’s decision to
the Authority by 18 November 2024 and in the manner specified by the Authority.
The Tribunal
17.
Mr Slinger does not have a right to refer the decision to give this Notice of Decision to the
Tribunal.
18.
The Authority intends to publish such information about the matter to which this Notice of
Decision relates as the Authority considers appropriate. The information may be published in
such manner as the Authority considers appropriate.
19.
For more information concerning this matter generally, Mr Slinger should contact Connie Wray
(direct line: 020 7066 0828).
NOTICE OF DECISION
To:
Mr Ian Slinger
ACTION
1.
For the reasons given below, the Authority has decided to cancel Mr Slinger’s Part 4A
permission. The cancellation takes effect on the date of this Notice of Decision.
2.
The effect of the cancellation is that Mr Slinger no longer has permission to carry on any
regulated activities.
DEFINITIONS
3.
The definitions below are used in this Notice of Decision (and in the Annex):
“the Act” means the Financial Services and Markets Act 2000;
“the Authority” means the Financial Conduct Authority;
“Directory Persons Attestation” means the report which an SMCR firm (as defined in the
Handbook) is required to submit to the Authority in accordance under SUP 16.26;
“DISP” means the Authority’s Dispute Resolution: Complaint’s sourcebook, part of the
Handbook;
2
“EG” means the Enforcement Guide;
“FDA” means the Firm Details Attestation which Authority-authorised firms are required to
submit to the Authority under SUP 16.10;
“the Further Notice” means the further notice issued by the Authority to Mr Slinger dated 10
August 2023;
“the Handbook” means the Authority’s Handbook of rules and guidance;
“the Notice” means the notice issued by the Authority to Mr Slinger dated 3 July 2023;
“Mr Slinger” means Mr Ian Richard Slinger;
“Mr Slinger’s Part 4A permission” means the Part 4A permission granted by the Authority to
Mr Slinger;
“Part 4A permission” means permission to conduct regulated activities, granted by the
Authority under Part 4A of the Act;
“RAG” means regulated activity group as referred to in SUP;
“the Returns” means the Complaints and Non-Retail Mediation Activities returns in relation to
the period from 6 April 2019 to 05 April 2023 which were due for submission on various dates
between 20 May 2020 to 23 May 2023;
“SUP” means the Supervision Manual, part of the Handbook; and
“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber).
FACTS AND MATTERS:
4.
Mr Slinger was authorised by the Authority on 6 April 2016 and given a Part 4A permission to
conduct the following regulated activities:
•
advising on investments (except on Pension Transfers and Pension Opt Outs);
•
advising on Pension Transfers and Pension Opt Outs;
•
agreeing to carry on a regulated activity;
•
arranging (bringing about) deals in investments; and
•
making arrangements with a view to transactions in investments;
5.
Under SUP 16.3.13R(1), SUP 16.3.13R(4), SUP 16.12.4R and 16.12.28AR (and the further
rules specified therein) in Chapter 16 of SUP and DISP 1.10.1R, Mr Slinger is required to submit
the Returns to the Authority by the relevant due date. However, Mr Slinger has failed to submit
the Returns to the Authority. The Authority therefore considers that Mr Slinger has failed to
provide information to the Authority as is required by the Handbook, namely the information it
is required to provide in the Returns.
6.
Under SUP 16.10.4R, 16.10.4AR and 16.10.4AAR, Mr Slinger is required to submit the FDA to
the Authority by the relevant due date. However, Mr Slinger has failed to submit the FDA to
the Authority. The Authority therefore considers that Mr Slinger has failed to provide
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information to the Authority as is required by the Handbook, namely the information it is
required to provide in the FDA.
7.
Under SUP 16.26.18R to 16.26.20R, Mr Slinger is required to submit the the Directory Persons
Attestation to the Authority within the relevant period. However, Mr Slinger has failed to submit
the Directory Persons Attestation to the Authority.
8.
On 3 July 2023, the Authority gave Mr Slinger the Notice which stated that:
(a)
it appears to the Authority that Mr Slinger is carrying on no regulated activity to which
its Part 4A permission relates; and
(b)
the Authority may take action to cancel Mr Slinger’s Part 4A permission unless it responds
to the Notice in the manner specified in the directions to the Notice.
9.
Mr Slinger failed to respond in the manner specified in the directions to the Notice.
10.
As a result of the matters specified above, on 10 August 2023, the Authority gave Mr Slinger
the Further Notice which stated that:
a) the Authority considered that Mr Slinger is carrying on no regulated activity to which its
Part 4A permission relates; and
b) the Authority proposes to cancel Mr Slinger’s Part 4A permission on 8 September 2023
unless Mr Slinger takes the steps specified in the directions to the Further Notice.
11.
Mr Slinger failed to take the steps specified in the Further Notice.
CANCELLATION OF PART 4A PERMISSION
12.
From the facts and matters described above, and having regard to paragraph 1(3) of Schedule
6A to the Act, the Authority considers that Mr Slinger is carrying on no regulated activity to
which its Part 4A permission relates. The Authority has therefore decided to cancel Mr Slinger’s
Part 4A permission. The cancellation of Mr Slinger’s Part 4A permission takes effect on the date
of this Notice of Decision.
13.
The statutory and regulatory provisions relevant to this Notice of Decision are set out in the
Annexes.
PROCEDURAL MATTERS
14.
This Notice of Decision is given to Mr Slinger under paragraph 3 of Schedule 6A to the Act
(variation or cancellation of Part 4A permission on initiative of FCA: additional power).
The following paragraphs are important.
Annulment of the Authority’s decision
15.
If Mr Slinger is aggrieved by the decision to cancel its Part 4A permission as set out in this
Notice of Decision, Mr Slinger may make an application for an annulment of the Authority’s
decision under paragraph 4 of Schedule 6A to the Act.
16.
Mr Slinger must submit a completed application for an annulment of the Authority’s decision to
the Authority by 18 November 2024 and in the manner specified by the Authority.
The Tribunal
17.
Mr Slinger does not have a right to refer the decision to give this Notice of Decision to the
Tribunal.
18.
The Authority intends to publish such information about the matter to which this Notice of
Decision relates as the Authority considers appropriate. The information may be published in
such manner as the Authority considers appropriate.
19.
For more information concerning this matter generally, Mr Slinger should contact Connie Wray
(direct line: 020 7066 0828).