FSA Handbook - Full Handbook

Glossary
High Level Standards
- PRIN Principles for Businesses
- SYSC Senior Management Arrangements, Systems and Controls
- COND Threshold Conditions
- APER Statements of Principle and Code of Practice for Approved Persons
- FIT The Fit and Proper test for Approved Persons
  - FIT 1 General
  - FIT 2 Main assessment criteria
  - Transitional Provisions and Schedules
- FINMAR Financial Stability and Market Confidence Sourcebook
- TC Training and Competence
- GEN General Provisions
- FEES Fees Manual
Prudential Standards
Business Standards
Regulatory Processes
Redress
Specialist sourcebooks
Listing, Prospectus and Disclosure
Handbook Guides
Regulatory Guides

FIT 2.3.1 03/09/2001

In determining a person's financial soundness, the FSA will have regard to any factors including, but not limited to:

(1) whether the person has been the subject of any judgment debt or award, in the United Kingdom or elsewhere, that remains outstanding or was not satisfied within a reasonable period;

(2) whether, in the United Kingdom or elsewhere, the person has made any arrangements with his creditors, filed for bankruptcy, had a bankruptcy petition served on him, been adjudged bankrupt, been the subject of a bankruptcy restrictions order (including an interim bankruptcy restrictions order), offered a bankruptcy restrictions undertaking, had assets sequestrated, or been involved in proceedings relating to any of these.

FIT 2.3.2 03/09/2001

The FSA will not normally require the candidate to supply a statement of assets or liabilities. The fact that a person may be of limited financial means will not, in itself, affect his suitability to perform a controlled function.

FIT 2.3 Financial soundness