ENF 8.1 Application and Purpose

This chapter applies to all individuals, whether or not they are approved by the FSA. Some consequential guidance in this chapter will apply to firms.

The power to prohibit individuals who are not fit and proper from carrying out functions in relation to regulated activities helps the FSA to work towards its regulatory objectives of protecting consumers, promoting public awareness, maintaining confidence in the financial system and reducing financial crime. The FSA may exercise its power to make a prohibition order where it considers that , to achieve any of those objectives, it is necessary either to prevent an individual from carrying out any function in relation to regulated activities or from being employed by any firm, or to restrict the functions which he may carry out or the type of firm by which he may be employed.1