FCA authorisation

Getting FCA authorisation can be a time-consuming and daunting process. And it’s largely conducted in the unique jargon used by the UK regulators and those with an in-depth knowledge of the Financial Conduct Authority Handbook.

There are several lengthy application forms to complete, and a mass of supporting documentation to assemble about your firm, its intended business, key individuals, funding governance and finances. Then there’s a lengthy dialogue where you’ll have to convince the FCA’s case officer of your credentials. This typically lasts around four to five months, but it can be a lot longer.

Without experience or professional advice, the FCA authorisation process can be highly time-consuming and complex.

Helping you get authorised by the FCA

We can help you with your FCA application from start to finish

We have helped over 500 UK financial services firms get authorised. They’ve included banks, broker dealers, asset managers, wealth managers, payment services providers, crowdfunding website operators, lenders and insurers.

Our work on FCA authorisations typically involves:

  • Initial advice and scoping – we can explain the range of options available, help you settle on the optimum regulatory structure, and advise you on the key operational parts of the business that the FCA will expect to be in train during the application.
  • Compiling the application pack – we can draft the forms and regulatory business plan for you, or review your work and suggest improvements.
  • Drafting your compliance policies and procedures.
  • Managing your relationship with the FCA and answering the case officer’s questions.

Helping overseas firms with UK authorisation

As well as supporting local licensing applications from our offices in Hong Kong, Singapore and the US, we are working with clients across the EU and beyond to achieve FCA registration and authorisation in the UK post Brexit.

We have unparalleled experience in FCA authorisation

Our breadth of sector experience and understanding of FCA rules, coupled with our international regulatory licensing work means we have an unparalleled understanding of the authorisation process.

We know what regulators are looking for and can help manage your relationship with the FCA and bridge any communications gaps. And the involvement of a respected compliance consultant like Bovill is often seen by regulators as a sign that the applicant is giving due weight to compliance.

 

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