Notify the Financial Conduct Authority and/or Prudential Regulation Authority of changes to an approved person's status: financial services
Key points
Employers must notify the Financial Conduct Authority and/or Prudential Regulation Authority where they become aware of information that would be reasonably material to the continuing assessment of an approved person's fitness and propriety and his or her competence to carry out an activity.
An employer may commit an offence if it fails to disclose material facts about a person's fitness and propriety to the appropriate regulator.
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