ENF 10.2 Purpose

The purpose of this chapter is to explain the FSA's policies on how it will:

1. (1)

   use its powers under the Act to apply to court for orders under existing insolvency legislation;

2. (2)

   exercise its rights in the Act to be involved in proceedings under that legislation.

The FSA's effective use of its powers and rights in insolvency proceedings will help it pursue its regulatory objectives of maintaining market confidence, protecting consumers and reducing financial crime by, amongst other matters, enabling it to apply to court for action to:

1. (1)

   stop firms and unauthorised persons carrying on insolvent or unlawful business; and

2. (2)

   ensure the orderly realisation and distribution of their assets.