SIFA 6.2 The Authorisation Approval Process: Our Functions
Our functions are as follows.
We: |
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Authorise firms that satisfy the necessary conditions (the threshold conditions) by granting permission to carry on specified regulated activities. |
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Approve individuals as being fit and proper to carry out controlled functions in firms. (Controlled functions are functions that enable the person responsible for them to exercise a significant influence on a firm's affairs or which involve that person in dealing with customers or customers' property). |
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Answer technical enquiries about whether firms require authorisation or individuals require approval. |
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Seek to ensure that investment business is not being carried out by either unauthorised firms or firms acting outside of their permitted activities. |
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Collect and maintain intelligence information about authorised firms and individuals. |