Almost All Bankers Pass `Fit and Proper’ Test, Guardian Reports

The Financial Conduct Authority and its predecessor, the Financial Services Authority, have rejected just 30 out of 227,000 applicants to take on some of the most risky jobs in British banks since the financial crisis, the Guardian reports. *The FCA said it had blocked about one in every 7,566 people who had applied to become "approved persons" in the last six years: Guardian *The so-called "fit and proper" test is designed to assess bankers’ “honesty, integrity and reputation” as well as “competence and capability,” the Guardian said, citing the FCA. *A spokesman for the FCA declined to comment on exactly how the regulator decides if a person is fit and proper although it involves criminal record checks, the Guardian reported.

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