Final Notice

On , the Financial Conduct Authority issued a Final Notice to Remote Audit Ltd


Dated: 21 November 2016


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

The Authority issued to RAL 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 RAL’s permission.

RAL 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 RAL’s 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;

“the Decision Notice” means the Decision Notice issued to RAL dated 5 October


“RAL” means Remote Audit Ltd;

“RAL’s permission” means the permission granted by the Authority to RAL

pursuant to Part 4A of the Act;

“the Return” means the CCR007 return for the period ended 31 December 2015,

which RAL was due to submit to the Authority by 12 February 2016;

“the suitability Threshold Condition” means the threshold condition stated at

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 RAL dated 13

September 2016.


On the basis of the facts and matters and conclusions described in the Warning
Notice issued to RAL and in the Decision Notice, it appears to the Authority that
RAL is failing to satisfy the suitability Threshold Condition, in that the Authority is
not satisfied that RAL is a fit and proper person having regard to all the
circumstances, including whether RAL managed its business in such a way as to
ensure that its affairs were conducted in a sound and prudent manner.

This is because RAL has failed to comply with the regulatory requirement to
submit the Return. RAL has not been open and co-operative in all RAL’s dealings
with the Authority, in that it 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 under the regulatory system.

These failures, which are significant in the context of RAL’s suitability, lead the
Authority to conclude that RAL 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 RAL has had a


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 RAL 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 RAL 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.

For more information concerning this matter generally, please contact Prea Deans
at the Authority (direct line: 020 7066 2272).

John Kirby
Enforcement and Market Oversight Division


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