If you are looking for FCA or PRA authorisation for the first time or need to apply for a UK banking license, we can help. We can advise you from the early stages of the process in deciding whether a full FCA or PRA authorisation is the right thing for you or what the alternatives might be. We can then work with you throughout the process. We can also support you with changes to permissions, controllers, legal status and approved persons.
Authorisation, whether from the FCA or PRA, is getting more and more complicated. Financial services firms must show they have the systems and controls needed to manage regulatory risk. As well as forms, applicants have to provide additional documentation – for example regulatory business plans and detailed capital and liquidity projections. The FCA may also want to speak to senior individuals to make sure they are competent.
How we can help
We have been working on applications for regulatory permissions for nearly 20 years and submit around 50 a year. We know the regulators, and what they are looking for. We have developed templates and procedures to ease the process for you.
We can manage the authorisation process from start to finish, help develop your procedures and financial models or simply review what you have prepared before you submit. We can prepare individuals for interviews and deal with the FCA or PRA on your behalf.
We also prepare and submit FCA ‘variations of permission’ for firms changing their business models or facing new regulation such as consumer credit. Get in touch to find out more.