Final Notice

On , the Financial Conduct Authority issued a Final Notice to IT Technical Solutions Ltd


IT Technical Solutions Ltd

Dated: 12 July 2018


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

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

ITTSL 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 ITTSL’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;

IT Technical Solutions Ltd

12 July 2018

“the Decision Notice” means the Decision Notice issued to ITTSL dated 18 April

“ITTSL” means IT Technical Solutions Ltd;

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

“the Return” means the CCR007 return for the period ended 31 March 2017,
which ITTSL was due to submit to the Authority by 17 May 2017;

“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 ITTSL dated 19 March


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

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

These failures, which are significant in the context of ITTSL’s suitability, lead the
Authority to conclude that ITTSL 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 ITTSL 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 ITTSL 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 ITTSL 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 Rachel
Fasanya at the Authority (direct line: 020 7066 3202).

Enforcement and Market Oversight Division


Regulator Warnings Logo