FCA Sets Faster Timelines—But Don’t Get Complacent
The FCA has unveiled a new set of targets for authorisations. On paper: faster approvals. In practice: tougher hurdles.
What’s Changing?
The FCA now expects:
– 80% of straightforward applications to be resolved in 2 months
– 80% of moderately complex cases in 6 months
– 80% of complex cases in 12 months
Why the New Focus?
This follows criticism from the National Audit Office and firms over long delays—some over 18 months for simple credit broking permissions.
What This Means For You
The message is clear: quality is non-negotiable.
Poorly prepared applications will still be rejected or sent back, and the FCA now has political backing to act decisively.
How ALPH Can Help
At ALPH, we:
– Prepare comprehensive applications that meet the new standards
– Conduct internal audits before submission
– Offer documentation packs, including wind-down plans, SM&CR, and governance frameworks
Bottom Line
Speed only benefits those who are ready. Let’s get your house in order so when the FCA door opens—you walk straight through it.
Alph Legal can assist with all aspects of your business’ compliance needs whether that be compliance structure and policy, internal/external audit, business and regulatory change support, authorisation, supervision or just some general expert advice and guidance!