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Approved Persons - Do you understand your obligations? |
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As part of its aim to achieve 'credible deterrence' the FSA has recognised that action against individuals has a much greater impact in terms of deterrence than action against firms and has therefore made a strategic decision to investigate more individuals.
The evidence speaks for itself, already in 2009 there have been 6 enforcement actions in which individuals have been found culpable.
The aim of this briefing is to highlight the key obligations for individuals who become approved persons and highlight the risk of enforcement where such individuals do not fulfil their regulatory responsibilities.
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