FCA Authorisation Application Guidance Notes

Are you are currently going through an Financial Conduct Authority (FCA) authorisation application or considering starting a business that will be regulated by the FCA? If yes, this article will provide you with some guidance and insight into the process and steps.

What is FCA Authorisation?

If you or your business are considering carrying on regulated activities in the UK which fall under the scope of the Financial Services and Markets Act 2000 (FSMA), you will needto apply for authorisation from the FCA. The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (the Regulated Activities Order) provides details on what the ‘regulated activities’ are.

You will most likely need to be authorised by or registered with the FCA in you provide any type of financial services, including consumer credit. The FCA authorisation application process is for the individual or business to apply for Part 4A permission.  

Do I Need To Be Authorised By The FCA?

One of the most asked questions on Google by firms considering entering the financial services market. When a firm is deciding whether they need to apply for authorisation, it is advisable to read the Perimeter Guidance Manual (PERG).

The manual resides within the FCA Handbook and provides guidance on who needs to be authorised, as well as the registration process. You can also find advice on the types of regulated activities and any that are excluded from permission.

If you know the type of business you intend to start and are aware of the activities you will carry out, take a look at Annex 2 of PERG 2 and cross-reference the list of regulated activities to confirm if you need FCA authorisation.

Guidance Notes for Authorisation Applications

Luckily, the FCA have worked with thousands of firms since their inception and understand that guidance is needed when completing the application for authorisation. To this end, they have produced extensive FCA Authorisation Application Guidance Notes than accompany the application form. The notes are in PDF and can also be downloaded from the regulators website.

Click To Visit the FCA Website - Authorisation Process