MLR2R10150 - Registration Process for MSBs/TCSPs: Table 3 Fit and Proper Test completed
Registration Team
|
Action |
Details |
|
Results of F&P test received from RIS |
Has the applicant passed or failed F&P test? |
|
Applicant passes F&P test |
Update DTR and F&P database File application in Business’s Registration File |
|
Action where an individual fails fit and proper test |
Update DTR and F&P database Issue letter to the applicant notifying failure of the F&P test; and Issue letter to the business notifying them that their application cannot be accepted because the applicant has failed the F&P test; or Issue letter to sole proprietor notifying failure of the F&P test. Monitor response within 14 days |
|
Individual / sole proprietor provides further information |
Review the information provided Overturn decision if information sufficient to confirm reason for F&P failure was inaccurate Request RIS to carry out further checks if the information does not confirm reason for F&P failure was inaccurate |
|
Response received from the business |
If the business decides to replace the individual who has failed the F&P test monitor receipt of new F&P application form and fee within 30 days |
|
No response from the business |
Issue letter notifying failed application to register and refund registration fee |
|
No response from sole proprietor |
Issue letter of refusal to register and refund registration fee |
