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4.4.3

Past version: effective from 16/06/2016 - 15/06/2016
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We may exercise our power under paragraph 4.4.1 above in certain circumstances, as set out in FSMR section 35(2) and GEN 8.13.1, including where:

(a) the firm or Recognised Body is failing, or is likely to fail, to satisfy the Threshold Conditions when it was first granted a Financial Services Permission including:
(i) having adequate and appropriate resources;
(ii) being fit and proper to carry on a activity regulated by us for which it has an authorisation or recognition;
(iii) capability of being effectively supervised; and
(iv) having adequate compliance arrangements to enable it to comply with all applicable legal requirements.
(b) the firm or Recognised Body has committed a contravention of the FSMR, Rules or other enactments or subordinate legislation administered by us;
(c) the firm or Recognised Body has failed, during the period of at least 12 months, to carry on an activity regulated by us to which the Financial Services Permission relates; or
(d) we consider that the exercise of the power is necessary or desirable in the pursuit of one or more of our objectives.