What aspect does NOT form part of the assessment of the integrity of an approved person?

The assessment of an approved person's integrity is a critical component in the regulatory framework for financial services in the UK, particularly under guidance from authorities like the Financial Conduct Authority (FCA). Each aspect of the integrity assessment is designed to ensure that individuals who hold key roles in financial institutions meet certain ethical standards.

Financial soundness refers to an individual's financial stability and managing personal finances responsibly, which reflects their ability to maintain professional roles without conflict arising from financial difficulties. Competence and capability assess whether the individual has the necessary skills and knowledge to perform their role effectively, which ties directly to their professional integrity and the trust clients and the public place in the institution. Honesty and reputation are fundamental to the integrity assessment; this encompasses the individual's history regarding ethics and adherence to regulatory standards.

While personal relationships can provide context about an individual's social interactions and network, they do not directly contribute to assessing the integrity of a person in a professional capacity under regulatory scrutiny. It is the individual's behavior, skills, and ethical standing that are essential to this assessment, rather than their personal relationships, which may not reflect their professional conduct or integrity. Therefore, personal relationships are not considered a core aspect of the integrity assessment for approved persons.