What is Fitness and Propriety?

Standards of fitness and propriety is an underlying concept in the SM&CR regime and in relation to persons approved by the FCA and PRA. Whether the body concerned considers an individual to be fit and proper to fulfil the specified role will depend on an assessment by reference to the following factors:

If an individual has a finding of gross misconduct or is otherwise found to have breached the FCA’s conduct rules, this may result in the individual ceasing to be fit and proper, which prevents them from being employed in any senior management roles within FCA-regulated firms.

Farore Law is a leading boutique law firm that has a wealth of experience in advising senior executives on employment matters. We are well placed to provide appropriate advice regarding the enforceability of contractual terms, seeking a settlement agreement and commencing or defending litigation in the High Court or the Employment Tribunal.

Please contact us if you require legal advice.