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.

Read the full decision in Eversure Financial Services Limited and Frederick George Young v Financial Services Authority: FIN 2005/0027 FIN 2005/0028.

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).

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