FHDDS32330 - Approval, revoking the approval and variations: approval – pre-approval visit: visit

It is expected that in most cases a pre-approval visit will be undertaken to those persons applying for approval under the Fulfilment House Due Diligence Scheme. During the visit the whole business should be examined in depth, with all aspects of the application being robustly challenged.

The overall the aim of a pre-approval visit is to:

• establish that the business is a genuine enterprise;
• establish whether the proposed business is credible and commercially viable (what do they intend to do?)
• understand the operating model of FH and structure of the business (e.g. where is the parent company based?)
• confirm the accuracy of the earlier assessment that the applicant is a ‘fit and proper’ person to be authorised;
• establish the business’s operation and financial arrangements;
• educate the trader on their legal obligations;
• assess likely future compliance of the business, and risk;
• where risk is identified, consider potential revenue impact;
• decide if the approval should be granted and, if granted, whether additional conditions and/or restriction should be imposed;
• establish that the record-keeping systems/management checks in place are sufficient for the business to record and account for the duty

ensure the premises are a safe environment for our officers to work in.