Under section 63(1) of the Act (Withdrawal ofapproval), the FSA may withdraw an approval given under section 59 of the Act (Approval for particular arrangements) if it considers the person in respect of whom it was given is not a fit and proper person to perform the function to which the approval relates.
When considering whether to withdraw its approval, the FSA may, under section 63(2), consider any matter which it could take into account if it were considering an application made under section 60 of the Act (Applications for approval) in respect of the performance of the function to which the approval relates.
has obtained a qualification;
has undergone, or is undergoing, training; or
possesses a level of competence,