Free Fit & Proper Assessment Tips

Length: 2-page | Format: Editable PPT / PDF

Fit and Proper (F&P) assessments are a benchmark used by the FCA to assess whether individuals are suitable to perform a controlled or senior management function (SMF).

Whilst the FCA handbook provides guidance, it is up to firms to decide how and when they conduct assessments.

That's why you need to know the common pitfalls and how to differentiate between positive and negative indicators.

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Fit & Proper Assessment

How this desk aid will help

On the first page, we explain these common pitfalls, with the second page devoted to explaining positive and negative indicators.

  • Just checking that nothing has changed since the last assessment
  • Only checking for an absence of negative indicators/behaviours
  • Restricting training to managers within the F&P process
  • Assessment fails to relate to the actual role the SMF/CP performs
  • Conducting F&P assessments in isolation
  • Assessments are perfunctory and/or subjective
  • Applying a black and white approach - either pass or fail
  • Only considering F&P on an annual basis

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