The FSA is issuing this statement in the light of market and media interest, and at a time when many commercial organisations are considering renewing policies.
MTA letters are issued to firms based on the information that they provide to the FSA as part of their application for authorisation. If there is any subsequent significant change of circumstance affecting a firm's abilities to meet the FSA's prudential and conduct of business standards, the FSA may reconsider its decision before any Scope of Permission notice, which formally authorises a firm, is issued.
