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Requirements
Requirements
Section 55L FSMA gives the Authority power to impose such requirements on authorised firms as the Authority considers appropriate. Section 55L(2) provides that the Authority may exercise its power to impose requirements in relation to an authorised person (“A”):
if it appears to the FCA that—
A is failing, or is likely to fail, to satisfy the threshold conditions for which the FCA is responsible,
A has failed, during a period of at least 12 months, to carry on a regulated activity to which the Part 4A permission relates, or
it is desirable to exercise the power in order to advance one or more of the FCA's operational objectives.
- Heading
- Introduction
- Procedural matters
- The law
- The Register
- FCA Handbook
- High level standards
- Specialist sourcebooks
- Other Guidance
- Requirements
- Debt Counselling
- Background facts
- Screenshots of these websites were included in the Hearing Bundle
- The Tribunal’s jurisdiction
- Submissions
- Mr Fell submitted that Wilson demonstrated the importance of consumer protection as a matter of public policy, and that similar important concerns arise in this case
- Discussion
- Further observations
- Conclusions