Section 56(1)

The FCA may make a prohibition order if it appears to it that an individual is not a fit and proper person to perform functions in relation to a regulated activity carried on by— an authorised person, a person who is an exempt person in relation to that activity, or a person to whom, as a result of Part 20, the general prohibition does not apply in relation to that activity.

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Source: legislation.gov.uk · retrieved 2026-09-04