ENF 7.1 Application and purpose

This chapter applies to approved persons and to firms.

The power to withdraw approval from approved persons is one of various regulatory tools the FSA may use to help it achieve its regulatory objectives. The FSA's effective use of this power will help ensure high standards of regulatory conduct by preventing an approved person from continuing to perform the controlled function to which the approval relates if he is not a fit and proper person to perform that function. It will also demonstrate generally to approved persons the consequences of failing to comply with appropriate standards of conduct.