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FINAL NOTICE

To:


Lee Donnelly (trading as Kingsmill Cars)

ACTION

1.
For the reasons set out in this Final Notice, the Authority hereby takes the following
action against Mr Donnelly.


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

3.
Mr Donnelly has not referred the matter to the Tribunal within 28 days of the date
on which the Decision Notice was given to him.

4.
Accordingly, the Authority has today cancelled Mr Donnelly’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 Mr
Donnelly dated 16 July 2020;

“Mr Donnelly’s Part 4A permission” means the permission granted by the Authority
to Mr Lee Donnelly under the Act;


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“the Overdue Balance” means the amount owed by Mr Donnelly to the Authority of
£160.69 in respect of period fees and levies which was due for payment on 28
December 2018;


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

“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 Mr
Donnelly dated 23 June 2020.

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

7. Mr Donnelly has failed to pay the Overdue Balance and he has not been open and

co-operative in all his dealings with the Authority, in that Mr Donnelly has failed to
respond to the Authority’s repeated requests for him to pay the Overdue Balance,
and has thereby failed to comply with Principle 11 of the Principles and to satisfy
the Authority that he is ready, willing and organised to comply with the
requirements and standards of the regulatory system.

8. These failures, which are significant in the context of Mr Donnelly’s suitability, lead

the Authority to conclude that Mr Donnelly has failed to manage his business in
such a way as to ensure that his affairs are conducted in a sound and prudent
manner, that he is not a fit and proper person, and that he is therefore failing to
satisfy the Threshold Conditions in relation to the regulated activities for which he
has had a permission.

DECISION MAKER


9. The decision which gave rise to the obligation to give this Final Notice was made

by the Regulatory Decisions Committee.

IMPORTANT


10. This Final Notice is given to Mr Donnelly in accordance with section 390(1) of the

Act.

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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 Mr Donnelly or prejudicial to the interest of the
consumers.

12. The Authority intends to publish such information about the matter to which this

Final Notice relates as it considers appropriate.

13. For more information concerning this matter generally, please contact Arunn

Thiruchelvam at the Authority (direct line: 020 7066 1241).

Anna Couzens
Enforcement and Market Oversight Division