A person upon whom the FSA has conferred approved person status, allowing them to undertake a controlled function, having passed the fitness and propriety test (FIT). Approved persons must abide by the Statement of Principles and Code of Practice for Approved Persons. See SIGNIFICANT INFLUENCE (www.fsa.gov. uk).
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An individual who has been approved by the Financial Conduct Authority (FCA) to perform a FCA controlled function for an authorised person.