The Principles set out in simple terms
the fundamental or overarching standards (called high-level standards) that
all firms must meet. The rest of the Handbook contains more detailed requirements
that expand on these standards.
SIFA 5.1.2G
If a firm breaches one or more of the
Principles it becomes liable to disciplinary sanctions. For example, a serious
breach may result in your firm's authorisation being removed.
