Here we look at the most crucial early step in setting a financial services firm. Obtaining FCA authorisation or licence to operate. This blog should be relevant whether you are an experienced professional setting up a trading firm or a Private Equity Boutique. But also if you a programmer with great tech skills and an idea on how to improve Digital Finance and create your own FinTech unicorn.
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What are the FCA's fees (initial and ongoing) to become authorised?
Variation of permission | Bank of England
We know what questions the FCA is currently asking, so we can make sure your responses are watertight and to the point. We know it can be tricky securing FCA approval or authorisation to conduct a regulated activity. The process is littered with pitfalls for the uninitiated. When you apply for FCA authorisation, the regulator will delve deeply into your business plan, your financial forecasts, and the people involved in your business.
Variation of permission
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Preparing for authorisation brings additional resourcing constraints for firms and their internal compliance teams. Engagement with the regulator, alongside gathering the breadth of information required to support the application process, can seem a daunting task, with the preparation for authorisation alone often exceeding existing in-house competencies and capacity. We have practical experience of implementing complex regulatory frameworks and requirements into business processes. We can offer in-depth technical support for the completion of your regulatory business plan RBP , undertake analysis of your regulatory permissions to your business strategy and support you on building and implementing the necessary governance, risk management and policy suites, in support of your application. We can:.