ENFG App 1.5 Disapplication orders against members of the professions

The FCA has the power under section 329 of the Act to make an order disapplying an exemption from the general prohibition in relation to a person who is a member of the professions on the grounds that the member is not a fit and proper person to conduct exempt regulated activities. Additionally, the FCA has powers to maintain a public record of disapplication orders.

When exercising the power to make a disapplication order, the FCA will consider whether other action would be more appropriate – in particular, whether to make a prohibition order. The FCA will also have regard to any disciplinary action taken, or to be taken, against the person by the relevant designated professional body.

In cases where the FCA considers making an order prohibiting the individual from performing functions in relation to exempt regulated activities , it will consider all the relevant circumstances of the case, including the factors set out in ENFG 5.3.2G .