Guidance

1. In considering whether to grant an individual Approved Person status with respect to more than one Authorised Person, the Regulator will consider each Controlled Function and any Recognised Function to be carried out and the allocation of responsibility for that individual among the relevant Authorised Persons. In this situation the Regulator will need to be satisfied that the individual will be able to carry out his roles effectively, is fit and proper to do so, and that there are no conflicts of interest or that any actual or potential conflicts of interest are appropriately managed.