Our FCA authorisation services
We manage your regulatory application to the UK’s Financial Conduct Authority (FCA) by setting out a clear plan, guiding and working with you throughout every stage of the FCA application lifecycle.
In the UK, it is essential for all financial services providers, investment firms, and consumer credit firms to be authorised by the FCA to continue their operations. Our UK Compliance Solutions team specialises in navigating the complexities of the FCA authorisation process, ensuring a seamless and efficient experience for our clients.
Our FCA compliance consultants can support you with:
- FCA-regulated activities for which you will need permission
- obligations specific to your regulatory activities
- guidance with and review of your Regulatory Business Plan and financial projections
- support with Prudential requirements including ICARA, liquidity policy, stress testing, wind-down plans and remuneration policy
- FCA competency requirements for senior management and other staff
- the completion of the necessary forms, including ownership disclosure forms and FCA Approved Persons Forms
- preparing your senior management for meetings with the FCA
- liaising with your other advisers and with the FCA
- project managing your FCA application from start to finish
How long does the FCA application process take?
Once submitted, the FCA can take up to 6 months to undertake a thorough review of your application. The FCA will conduct a thorough review of your business plan to ensure your organisation does not pose a risk to the integrity of the UK’s financial services industry. Once approved, you will be listed in the FCA register as an authorised entity.
By entrusting us with your FCA obligations, you can focus on your core business activities, confident that our dedicated professionals are handling the intricate details to secure FCA registration.
UK FCA - FAQs
Have a question about the FCA Authorisation process? Browse our FAQ below or get in touch with our UK/EU Compliance Team today.
Do I need FCA authorisation?
According to provisions made under the Financial Services and Markets Act (FSMA) 2000, financial activities must be regulated by the FCA. Any firm (whether a business, a not-for-profit or a sole trader) carrying out a regulated activity must be authorised or registered by the FCA, unless they are exempt. Find out more details on the FCA’s website.
How long does it take to get FCA authorisation?
The timescale for FCA authorisation depends on the type of application being made and its quality and completeness. An application can take anywhere between a few weeks and six months to be authorised by the FCA.
How much does the FCA registration cost?
When you submit an application to the FCA, you must pay the application fee in full. This fee is non-refundable and the price will vary depending on the type of application and the firm applying for the authorisation. The more complex the application is, the higher the application fee is. If your authorisation application is successful, you will also pay an annual fee to the FCA.
Does making an application to the FCA guarantee authorisation?
No, it does not. The FCA carries out a detailed evaluation of all applications. The more detail given on an application and those prepared by experienced UK compliance professionals have a higher success rate and a more rapid processing time. However, there are no guarantees and problems can arise due to incomplete disclosure.
What happens once my FCA application is submitted?
An application should provide sufficient information to enable the FCA to determine whether you meet the requirements for authorisation and that you are ready, willing and organised to comply with the standards of the regulatory system. The FCA expects you to provide such information as is reasonably considered necessary to enable it to determine the application or, to decide whether to give consent to the PRA (where you have applied to the PRA). If substantive changes are made to an application after it has been submitted which indicate that you are not ready, willing and organised, you may be asked to consider withdrawing the application and re-applying to provide you with an opportunity to address the issues raised.
Once authorised by the FCA, what are my responsibilities?
Once you have been authorised by the FCA, there is an annual fee to pay. You must also meet its minimum standards (threshold conditions) at all times, comply with the rules and principles relevant to your business and send regular reports.
