Eversure Financial Services Limited and Frederick Young v Financial Services Authority: FIN 2005/0027 FIN 2005/0028
Upper Tribunal Tax and Chancery decision of Judge Oliver QC, Member Burdon and Member Abrams on 18 May 2006.
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AUTHORIZATION – Suitability – Fitness and propriety – Applicant firm’s connections with other persons in a relevant relationship – Those other persons refused approval on grounds of non-disclosure – No other person to carry out controlled functions – Whether Applicant firm satisfies “fit and proper” test – No – Threshold Condition 5 APPROVED PERSONS – Fit and proper to perform the controlled function – Non-disclosure by director seeking approval of earlier unsuccessful application to Lloyd’s – Whether applicant fit and proper – No – FS&MT 2000 s.61(1).
Published 1 December 2016