FIT 1.1 Application and purpose

FIT applies to:

1. (1)

   a firm;

2. (2)

   an applicant for Part 4A permission;

3. (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. (4)

   an approved person; and

5. (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.