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    2006-06-30

SIFA 6.2 The Authorisation Approval Process: Our Functions

SIFA 6.2.1G

Our functions are as follows.

We:

Authorise firms that satisfy the necessary conditions (the threshold conditions) by granting permission to carry on specified regulated activities.

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).

Answer technical enquiries about whether firms require authorisation or individuals require approval.

Seek to ensure that investment business is not being carried out by either unauthorised firms or firms acting outside of their permitted activities.

Collect and maintain intelligence information about authorised firms and individuals.