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Status: You are viewing the version of the handbook as on 2016-02-03.

FIT 1.1 Application and purpose

FIT 1.1.1GRP

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 7 SUP 10A.1.10 G and SUP 10B.1.10 G 7 and SUP 10.1.13 R 7 SUP 10A.1.11 R and SUP 10B.1.11 R7), or apply for a top-up permission (see SUP 10.1.14 R7 SUP 10A.1.13 R SUP 10B.1.12 R7);

  4. (4)

    an approved person; and

  5. (5)

    a candidate.

FIT 1.1.2GRP

The purpose of FIT is to set out and describe the criteria that the FSA 6 appropriate regulator 6 will consider when assessing the fitness and propriety of a candidate for a controlled function (see generally SUP 10 7 SUP 10A and SUP 10B 7 on approved persons). The criteria are also relevant in assessing the continuing fitness and propriety of approved persons.