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  1. Point in time
    2006-06-06

ENF 21.10 Cancellation of approval as a sponsor

Cancellation of approval: general

ENF 21.10.1G

The FSA may cancel a sponsor's approval if it considers that a sponsor has failed to meet the criteria for approval as a sponsor as set out in LR 8.6.5R.

ENF 21.10.2G

The FSA recognises that its decision to cancel a sponsor's approval may have a substantial impact on the sponsor.

Criteria the FSA will consider

ENF 21.10.3G

When considering whether to cancel a sponsor's approval, the FSA will take into account all relevant factors, including, but not limited to, the following:

  1. (1)

    the competence of the sponsor;

  2. (2)

    the adequacy of the sponsor's systems and controls;

  3. (3)

    the sponsor's history of compliance with the listing rules;

  4. (4)

    the nature, seriousness and duration of the suspected failure of the sponsor to meet (at all times) the criteria for approval as a sponsor set out in LR 8.6.5R;

  5. (5)

    any matter which the FSA could take into account if it were considering an application for approval as a sponsor made under section 88(3)(d) of the Act.