FCA Applications for Authorisation

After reaching out to us we will arrange a call with you to discuss the scope of your business in order to work out the exact permissions you will need.  We will give you a run-down of the process and timings involved in your type of application, as well as the compliance burden you will face after your business has been given the permissions.

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Reviewing and providing additional documents you need:

 

Following our initial kick-off meeting we will review all the existing policy documentation and provide you with any missing documents in a form of templates. These may include:

 

• Regulatory Business Plan template 

• Template financial forecasts

• Templates for listing controllers and approved persons 

• Internal and personal controls procedures 

• Client classification notices and policy

• Risk Based Compliance Monitoring Programme - this lists all the rules that apply to your type of firm along with the nature and frequency of monitoring needed 

• Model for calculating financial resources and capital adequacy 

• Anti-Money Laundering (AML) policies and procedures 

• IT Security/Anti-Fraud Statements of Policy (for tech-based firms)

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Assisting with tailoring and completing your documentation library:

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We will work closely with you to tailor and complete all the documents you need to send to the FCA as part of the application. Most of these documents and policies will require your input, and we will be on hand to provide detailed guidance on working versions so you can bring them to a state that the FCA will be happy with.

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Drafting the FCA Application:

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When you have finalised your Business Plan and supporting information, we will draft detailed responses to the questions within the main application forms on your behalf. Where we need your input we will reach out to you with specific questions. The forms which capture information on your staff and owners will need to be filled out by the individuals and companies themselves; we will then go through them with a fine-toothed comb to spot any areas of concern or where we need further information.

 

 

Building and submitting the application pack to the FCA:

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When we have finished working with you to draft and collate the application forms and supporting information, we will build the application pack for you in the FCA's Connect system and get it ready for submission. At this stage, you will need to pay the FCA an application fee. Naturally, we will let you know how much you can expect to pay at a very early stage of the application.

 

 

Assisting with the FCA Case Officer's requests for information:

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After the FCA receives the application, there tends to be a wait time of a number of months before they complete their initial assessment, the wait time varies greatly depending on what type of firm, and the FCA's current workload. The FCA will then reach out to you via a "case officer" with requests for more information. When this occurs we will actively work with you to respond to the FCA, drafting initial responses on your behalf and providing detailed guidance on the best way to present supporting information. Generally speaking, there will be a number of "rounds" of questions from the FCA, and we will be by your side supporting you up to the point you become authorised.