FINAL NOTICE

To: NUYOU FINANCE (SAMANTHA EDWARDS TRADING AS)

FRN:
804104

ACTION

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


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


3.
Ms Edwards has not referred the matter to the Tribunal within 28 days of the date
on which the Decision Notice was given to her.


4.
Accordingly, the Authority has today cancelled Ms Edwards’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 Ms
Edwards pursuant dated 29 October 2019;

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

“the Overdue Balance” means the outstanding sum of £300.46, owed by Ms Edwards
to the Authority for annual fees and levies for the period 1 April 2018 to 31 March
2019, which was due for payment by 16 September 2018;


NUYOU FINANCE (SAMANTHA EDWARDS TRADING AS) 20 February 2020
Final Notice
Page 2

“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 Ms
Edwards dated 8 October 2019.


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


7.
Ms Edwards 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 Ms Edwards 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 failures, which are significant in the context of Ms Edwards’s suitability, lead
the Authority to conclude that Ms Edwards 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
was granted a Part 4A 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 Ms Edwards 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 Ms Edwards or prejudicial to the interest of consumers.


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


NUYOU FINANCE (SAMANTHA EDWARDS TRADING AS) 20 February 2020
Final Notice
Page 3

Authority contact

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

Martin Butcher
Enforcement and Market Oversight Division