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Version date: 31 December 2020 - onwards
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Schedule 6, Part 1C Part 4A permission: conditions for which FCA is responsible in relation to PRA-authorised persons (paras. 3A-3E)

Introduction

3A. If the person concerned ("B") carries on, or is seeking to carry on, regulated activities which consist of or include a PRA-regulated activity, the threshold conditions which are relevant to the discharge by the FCA of its functions in relation to B are the conditions set out in paragraphs 3B to 3E.

Effective supervision

3B.

(1) B must be capable of being effectively supervised by the FCA having regard to all the circumstances including -

(a) the nature (including the complexity) of the regulated activities that B carries on or seeks to carry on;

(b) the complexity of any products that B provides or will provide in carrying on those activities;

(c) the way in which B's business is organised;

(d) if B is a member of a group, whether membership of the group is likely to prevent the FCA's effective supervision of B;

(e) whether B is subject to consolidated supervision required under any relevant implementing provisions;

(f) if B has close links with another person ("CL"

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