FCA Supervisory Notice

On 20 December 2023 the FCA issued a First Supervisory Notice and a series of requirements to RCWatches Ltd such that it (quoting directly from the notice): has decided to

- vary with immediate effect the Part 4A permissions granted to RC Watches Ltd by removing all regulated activities from those to which the permission relates with the effect of this Variation being that RCWatches Ltd no longer has permission to conduct regulated activity.

In addition the FCA has imposed the following requirements:

-RCWatches Ltd must not, without the prior written consent of the FCA, in any way dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets, and any funds it holds for, or to the order of, its customers or investors (whether in the United Kingdom or elsewhere), whether held by the Firm as at the date of the imposition of the Requirements or acquired thereafter.

- By close of business on 3 January 2024, RCWatches Ltd must publish in a prominent place on every website in its name (or that it operates) in a form to be agreed in advance with the FCA, a notice setting out the terms and effects of the Requirements and Variation.

- RCWatches Ltd must, by 5pm on 4 January 2024 notify all consumers and creditors in writing of the imposition of the terms and effects of these requirements ; and

-RCWatches Ltd must secure all books and records and preserve all information and systems in relation to all activities carried on by it, including but not limited to regulated

activities, and must retain these in a form and at a location within the UK, to be notified to the FCA

The requirements include provision for RCWatches Ltd to continue dealing with or disposing of any of its own assets in the ordinary and proper course of business provided that the sum or value of such dealings or disposals, whether as a single transaction or a combination of related transactions, does not exceed £1,000 (or £3,000 in the case of legal expenses).



The effect of these requirements can be found here: https://register.fca.org.uk/s/firm?id=0014G000034VEWBQA4

ROLEX DAYTONA 116500

£25,950

Availability: In Stock

Quick Overview

Brand: ROLEX
Model: 116500
Movement: Self-Winding Automatic
New/Pre-Owned: Pre-Owned
Condition: Excellent
Year: 2021
Case: Stainless Steel
Papers: Yes
Warranty: Manufacturers Warranty
Extras: Instructions, Original inner box, Original outer box, Papers
Retail Price: £12,500
Our Price: £25,950
Saving: £

Details

 

Additional Information

Manufacturer ROLEX
Model DAYTONA
Model Number 116500
Case Stainless Steel
Warranty Manufacturers Warranty
Year 2021
Accessories Instructions, Original inner box, Original outer box, Papers
Condition Excellent - Pre-Owned
Movement Self-Winding Automatic
Retail Price £12,500
Our Price £25,950
Saving £