FCA Licence Applications

In each case, the process of applying to the FCA for authorisation or registration is challenging, complex and time-consuming, requiring the completion of a number of forms and the submission of various supporting documents, many of which the firm is likely to have to create, possibly from a “blank piece of paper”. Depending on the specific type of application, it is not uncommon for the total number of forms and supporting documents to be well in excess of 50, and this number can approach 100 for firms with larger management teams or a higher number of controllers (owners/significant shareholders).

Regardless of the type of application to be submitted, understanding the FCA’s expectations and requirements is vital to ensuring a smooth process and minimising the time from commencing work on the application to obtaining the required permissions or registration.

Finnovation’s team of compliance specialists have extensive experience of supporting firms in applying for FCA authorisation or registration and can help you in this respect. Depending on your exact requirements, our experts can provide:

• Advice on the exact regulatory permissions the firm is likely to require based on its proposed business model (a key step for many firms, as FCA does not provide a “blanket” authorisation, but rather one that only gives permission for the specific activities the firm will be undertaking);
• Comprehensive, hands-on support in the completion of the required FCA forms and preparation of the necessary supporting documentation; or
• An external “four-eyes” check on application materials prepared by the firm itself.

In each case, our involvement will help ensure the information you provide addresses the areas the FCA expects to see covered.