The FCA’s threshold conditions represent the minimum conditions for which the FCA is responsible, which a firm is required to satisfy, and continue to satisfy, in order to be given and to retain Part 4A permission.
If Paragon cannot meet its threshold conditions, it will inform the FCA immediately. Each controlled function and/or senior manager of Paragon is required to report to Paragon’s board if a threshold condition is at risk of not being met.
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