The challenges you face


We are aware of the additional resourcing constraints preparation for authorisation can place on firms and their internal compliance teams. Engagement with the regulator and gathering the breadth of information required to support the application can seem a daunting task, and the preparation of such can often be outside of existing in-house competencies and capacity.

The Regulatory Risk and Compliance Practice Group have hands on experience of implementing complex regulatory frameworks and requirements into business processes. We frequently interact with regulators and offer a wide range of services which can be tailored to client specific requirements covering both practical regulatory advice and ongoing support.

We can support authorisation applications across a wide range of industry sectors, including insurance and banking, building societies and asset finance, credit card and payments providers and credit brokers.

The team has detailed understanding of regulatory permissions and the practical authorisation processes, including variations of permissions, applications to become Principal or Appointed Representatives and change of control. We have experience of engaging with the regulator throughout each stage of the process and can give clients an indication on how we expect the regulator to react in certain circumstances.

What we offer

We offer in depth technical support for the completion of your regulatory business plan, providing challenge and analysis of the alignment of regulatory permissions to your business strategy, and support to build and implement the necessary governance, risk management and policy suite in support of your application.

  • Drafting/reviewing your regulatory business plan outlining: strategy, customer information, business segments and profitability in line with regulator expectations;
  • Drafting/reviewing of your compliance monitoring plan;
  • Supporting the development of a governance risk framework and necessary policy suite; and
  • Completion of all core and ancillary forms to be completed within the FCA's Connect system, including the application, owners and influencers, controller forms and disclosure, and approved persons.

Benefit from clearer and more confident proactive engagement with regulators and a better organised business to enable you to deal with the ongoing supervision from the regulator.

The expertise you need

We have supported over 50 firms through the authorisation and variation of permissions application processes, including Tier 1 Banks, major asset finance firms, pension management and credit brokers, so we are well placed to support you in this regard.

Our approach is flexible and can be tailored to suit specific client needs and demands; we can help as little or as much as you require for some or all of the full suite of our authorisation capabilities:

  • Consideration of your business model and full customer journey, and overlay the operational business processes, procedures and risk matrix, along with the business risk register to draft an initial skeleton regulatory business plan and provide feedback on your final draft before submission to the regulator;
  • Review your current interim permissions to ensure your business is currently acting FCA compliant, without the need for any remediation activity;
  • Identify and produce a permissions analysis of the regulatory permissions required for your business activities;
  • Plan the application process and produce project plans to monitor the deliverables and timescales;
  • Work closely with the internal executive to ensure that the application is owned within your business to support your risk and compliance teams;
  • Scope and support the development of a governance and risk management framework including the necessary internal suite of policies;
  • Assist your Board and Senior Management to understand the risk framework, the application process and their own role in managing the regulator's supervisory approach;
  • Access to our expertise on the 'Connect' application system for FCA authorisations, including hands on training on the use of the system using our test applications and support with completion of your forms either by reviewing your input or assisting in the actual submission; and
  • Provide you with ongoing support after the application has been submitted, for assistance with any follow up questions from the regulator.

If you would like to know more or would like us to come and talk to you further about what we can offer, please contact us.

Key contacts

Meet the team
Sarah Herbert

Sarah Herbert

Compliance Director, Financial Regulation
London

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