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F

Fees

the payment for the provision of Legal Services (also known as charges).

Financial Services and Markets Act 2000 (FSMA)

the statute which provides the framework within which the Regulator for the Financial Services Industry, the Financial Conduct Authority (previously the Financial Services Authority), operates. 

Fit and Proper Person

the CLC requires that all:

  • applicants
  • authorised persons
  • owners or managers of an Alternative Business Structure

are able to demonstrate that they are suitable for the role for which they are applying, this includes a fit and proper test to determine their probity and financial history.