FCA Applications
Working with you to achieve successful applications
Working with you to achieve successful applications
Our team have significant experience working in the legal and financial services sector, holding a number of regulatory compliance oversight roles in regulated firms and well as having various recognised industry qualifications.
We have a 100% success rate for authorisations*, with all of the applications we have assisted firms on being accepted.
We know that preparing an FCA application and all of the supporting documentation can be a lengthy and daunting process for new firms. Where applications are submitted that are incomplete, this can make the process drawn out and difficult. Therefore, we are here to help you ensure that your application is robust and complete, to maximise the chance of your application being accepted and your firm authorised as quickly as possible.
We have produced a number of competitively priced packages to help make the process easy for you, with the scope of service and price set on how much involvement and assistance you need from us or desire.
This could be by providing you with templated documentation that you will need to complete yourself and tailor to your business, or you can utilise our experience and expertise with complete hands-on support from start to finish. We can complete the application and supporting documentation on your behalf, providing you a bespoke service tailored completely to your business. We can also assist you with any follow up information requests from the FCA up until you receive authorisation.
* as of Jan 22
If your firm wants to start a new service or add a new regulated activity, you will likely need to apply to the FCA for a variation of your permissions before you can do so.
To do this you will need to submit to the FCA the required forms for the new activity and supporting documentation.
Usually, you will need to submit a regulatory business plan, explaining why you want to make the change and your planned strategy, policies and procedures for the requested activity.
You will also need to identify and assess the risks that will arise due to the change in activity and present this to the FCA.
You should give particular attention to the Threshold Conditions and your Prudential Resources and be able to explain to the FCA how you will continue to comply with these requirements.
A variation of permission can take between 6 months for a complete application and 12 months if the application is considered incomplete, so it is important to get it right in the first instance to ensure that the process is as expeditious as possible.
We can assist you with the preparation of all documents required to achieve a successful application, allowing you to expand your services and grow your business.
If you are looking to change the control in a firm, for example you may wish to increase the level of existing control or perhaps you are planning to acquire control in a new firm, this must be approved by the FCA before the change takes place. Failure to secure approval before making the change is a criminal offence under FSMA.
The change in control may take up to 3 months from when a complete application is received by the FCA and longer where the application is deemed incomplete.
You will need to complete the Section 178 notification form for anyone involved and provide the FCA with a number of supporting documents (dependent on the type of change you require) for example, a robust business plan, integration plans, financial projections, risk register, governance structures and organisation charts.
At Together Compliance, we have successfully achieved approval for changes in control for both individuals increasing control in a firm, and corporate controllers who are purchasing another firm. We can help ensure that your application is submitted complete, which will increase the chance of the change in control request being swiftly accepted.
We provide a range of packages, which are price dependent on how much involvement you require from us and which type of change in control notification you need to provide.
