Fit and Proper Person posture

The Fit and Proper Person (FPP) test serves as a pivotal safeguard mechanism designed to uphold the integrity of the schemes under our administration. Although specific eligibility criteria may vary across schemes, the overarching FPP standards typically evaluate an individual's historical adherence to legal mandates, financial solvency, and their capacity and proficiency to effectively discharge their designated role within the scheme.

Our delineation of the FPP framework is geared towards bolstering this control by articulating a clear stance: our assessments of eligibility prioritize the appraisal of client aptitude, competence, integrity, and moral rectitude.

This entails:

● Conducting thorough evaluations of 'other matters' to ascertain whether relevant individuals possess the requisite skills, capabilities, business acumen, and moral standing commensurate with the expectations placed upon participants within our schemes.

● Mandating that clients address any deficiencies identified within the FPP criteria by either demonstrating compliance or furnishing justifications for their continued participation within our schemes.

● Recognizing that certain lapses in meeting FPP requisites may be of such magnitude that they warrant immediate suspension or termination considerations.

We are progressively rolling out this posture across our schemes, ensuring that clients are adequately informed to facilitate their successful engagement within the schemes, and affording a reasonable timeframe for compliance with scheme stipulations where necessary.

Find out more about the different fit and proper person requirements.