GEN 5.2.7

In order to become authorised to carry on one or more Regulated Activities, the applicant must demonstrate to the satisfaction of the Regulator that it:

(a) has adequate and appropriate resources, including financial resources;
(b) is fit and proper;
(c) is capable of being effectively supervised; and
(d) has adequate compliance arrangements, including policies and procedures, that will enable it to comply with all the applicable legal requirements, including the Rules.