We may exercise this power in circumstances where:

(a) the Approved Person has not exercised the expected level of skill, care and diligence in carrying out the Controlled Function;
(b) the conduct of the Approved Person is inconsistent with the requirements and standards expected; or
(c) we have concerns about the fitness and propriety of the Approved Person (but not such as to warrant the suspension or withdrawal of an Approved Person's status pursuant to section 46 of FSMR).