Under section 46 of the FSMR, we may withdraw an individual's Approved Person status given under section 45 of FSMR, if we consider that the Approved Person is no longer fit and proper to perform the Controlled Function in question, including for example, where:
(a) the individual is in breach of an obligation applicable as a result of their Approved Person status;
(b) the Financial Services Permission of the relevant firm is withdrawn;
(c) the individual becomes bankrupt;
(d) the individual is convicted of an offence that would be considered relevant to his integrity and honesty, or his ability to perform his functions;
(e) the individual becomes incapable, through mental or physical incapacity, of managing his affairs; or
(f) the individual or the relevant firm asks us to withdraw the relevant status.