The SRA Handbook is no longer in effect. It was replaced by the SRA Standards and Regulations on 25 November 2019.

SRA Handbook

Withdrawal of approval

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Version 9 of the Handbook was published on 01/04/2014. For more information, please click 'History' Above

Rule 17: Withdrawal of approval


Where the SRA has granted an approval of a person to be a manager, owner or compliance officer of a body (including a deemed approval under Rule 13.2), it may subsequently withdraw that approval if:


it is not satisfied that an approved person met or meets the criteria for approval in Rule 15;


it is satisfied that a condition imposed on the body's authorisation under Rule 14.5 has not been, or is not being complied with;


it is satisfied that the approved person has breached a duty or obligation imposed upon them in or under the SRA's regulatory arrangements or any enactments; or


information or documentation is not promptly supplied in response to a request made under Rule 14.8.


Where withdrawal of approval relates to a director of a company, the SRA may set separate dates for that individual ceasing to be a director and disposing of his or her shares.