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It said Vantage knew Hassell was not an approved person; he had tried to become authorised when the firm was formed in 2004 but been rejected as he was then the subject of an FSA inquiry, which was dropped in 2007.
You must also be an "approved person" to control a bank.
You must also be an "approved person" to be in control of a bank, which means passing the FCA's "fit and proper" test.
Even more absurdly, central government's budgetary allocation is only about half of the Ministry of Rural Development's own estimates of the "approved person days as per the labour budget".
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The existing approved persons regime will be changed with a new system aimed at top bankers taking responsibility for their actions and a new licensing regime.
By law, Blair is not allowed to arrange, administer or advise on investments – roles that, under the City's regulations, only "approved" persons are allowed to conduct.
Several rural communities – where many view Ebola with much the same terror and misunderstanding as westerners did when the Aids epidemic began – may be quarantined, with food supplies and medical support ferried in by only approved persons, authorities said.
The FCA said the investigations would decide whether the senior figures, who include the former chief executive Andy Hornby and former chairman Lord Stevenson, should face proceedings that could strike them off the FCA's approved persons list.
Dow Jones's Financial News reported that despite claiming to be a trader on his own personal Web site, LeadingTrader.com, Mr. Rastani does not appear on a search of the Financial Service Authority's register of approved persons.
Nonetheless, the possibilities are tantalizing to say the least, with blockchain offering the potential of hosting our medical records, complete with things such as user-generated and genomics data, that we can rest-assured can only be accessed by either ourselves or approved persons.
Approved persons must act with honesty and integrity at all times and, where they do not, we will take action".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com