ENF 3.4 The FSA's duty to ensure that firms satisfy the threshold conditions

When it varies a firm'sPart IV permission, the FSA has a duty under section 41(2) of the Act (The threshold conditions) to ensure that the firm will satisfy, and continue to satisfy, the threshold conditions in relation to all of the regulated activities for which it has or will have Part IV permission. The duty is qualified by section 41(3) of the Act.