in accordance with the terms of its approver permission, if it has such a permission; or
within the scope of an approver permission exemption,
[Note: section 55NA(2) and (11) of the Act]
1Apart from the FCA’s power to grant, vary or cancel approver permission, section 55NA(12) of the Act confirms that the FCA may exercise other powers under the Act to restrict a firm’s ability to approve financial promotions beyond the restriction imposed by section 55NA. For example, the FCA may exercise its power to impose requirements under section 55L of the Act to restrict a firm’s ability to approve financial promotions for which it would not otherwise require approver permission (see SUP 6.3 and SUP 7).