FIT 1.1 Application and purpose
FIT applies to:
- (1)
a firm;
- (2)
an applicant for Part 4A permission;
- (3)
and EEA firm, a Treaty firm or a UCITS qualifier that wishes to establish a branch into the United Kingdom using EEA rights, Treaty rights or UCITS directive rights (see SUP 10.1.12 G 9 SUP 10A.1.10 G and SUP 10B.1.10 G 9 and SUP 10.1.13 R 9 SUP 10A.1.11 R and SUP 10B.1.11 R9), or apply for a top-up permission (see SUP 10.1.14 R9 SUP 10A.1.13 R SUP 10B.1.12 R9);
- (4)
an approved person; and
- (5)
a candidate.
The purpose of FIT is to set out and describe the criteria that the FSA 8 appropriate regulator 8 will consider when assessing the fitness and propriety of a candidate for a controlled function (see generally SUP 10 9 SUP 10A and SUP 10B 9 on approved persons). The criteria are also relevant in assessing the continuing fitness and propriety of approved persons.
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