Commentary

31 The approach of the Financial Services Authority to authorisation

BUILDING SOCIETIES vol 6(1)
| Commentary

31 The approach of the Financial Services Authority to authorisation

| Commentary

31 The approach of the Financial Services Authority to authorisation1

To gain, and retain, the status of an authorised person, a building society must satisfy and continue to satisfy certain minimum requirements, laid down in the Financial Services and Markets Act 2000. These are known as threshold conditions2. The Financial Services Authority (FSA) assesses each application3 against the threshold conditions4. If a building society can satisfy the threshold conditions in part only, the FSA may impose a limitation5 or a requirement6 on the Part IV permission applied for to enable

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