Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

Alternative versions

  1. Point in time
    2005-12-31

SIFA 6.3 Threshold Conditions

SIFA 6.3.1G

Before granting Part IV permission we must ensure that the applicant firm satisfies and will continue to satisfy the threshold conditions. These are set out below:

Threshold Conditions

•

A firm's legal status can take any form e.g. sole trader, partnership, limited liability partnership or a limited company.

•

The head office and registered office must be in the UK if your firm is a body corporate formed in the UK.

•

Close links with connected persons such as directors, controllers, other group companies or partners must not impede FSA supervision.

•

A firm must have adequate financial resources in relation to the regulated activities it carries on.

•

Suitability of the applicant firm: must be fit and proper.
SIFA 6.3.2G

The threshold conditions are set out under Schedule 6 of FSMA. There is guidance on the conditions in COND. You are responsible for ensuring that you continue to meet the threshold conditions to retain your authorisation and scope of permission.