Dear CEO: Our Custody and Fund Services Supervision Strategy Letter
MoreCall: 0845 139 4444
Email: hello@square4.com
Call: 0845 139 4444
Email: hello@square4.com
FCA regulatory authorisation is now becoming more challenging.
Our team of experts are here to support you from the initial concepts through to final submission of your application, giving you the best chance of success as you start on your regulated journey.
Ready, Willing & Organised
Obtaining FCA authorisation can be a time-consuming and daunting process, largely conducted in the specialised jargon used by UK regulators and those with in-depth knowledge of the Financial Conduct Authority (FCA) Handbook.
Applicants must complete several lengthy forms and assemble extensive supporting documentation about their firm, its intended business, key individuals, funding, governance, and finances. This is followed by a prolonged dialogue where you must convince the FCA’s case officer of your credentials, typically lasting around four to five months but potentially much longer.
Without experience or professional advice, the FCA authorisation process can be highly time-consuming and complex.
Our end-to-end solution, will see you supported by experts in your relevant sector, to bring about the best chances of a successful and first-time right application.
Service Benefits
How Square 4 can help
Our extensive sector experience and deep understanding of FCA rules, combined with our industry-leading success rate for authorisations, provide us with an unparalleled grasp of the authorisation process.
We understand what regulators seek and can assist in managing your relationship with the FCA, bridging any communication gaps. The involvement of a respected consultancy is often viewed by regulators as an indication that the applicant is taking compliance seriously.
If you would like to learn more about how our authorisations service, please contact one of our team.
Q. How quickly can we become authorised?
A. Firms should be aware that the approval process usually takes anywhere from 6-12 months depending on how much extra information has to be requested and gathered by your firm during the application process. If the application is ‘right first time’ this will help to greatly accelerate the timescales.
Q. When we first engage, how quickly can we submit our application for authorisation?
A. This will be highly dependent on your application type, inherent risk factors and your business setup and structures. For lower-risk applications, this could be as quick as four weeks, but for more complex applications this can be in excess of three months.
Q. How much does it cost to apply for authorisation with the FCA?
A. The application fee will fall into one of 10 pricing categories – each category covers a different group of permissions. The table here indicates the fee you’re likely to pay if you’re one of these common types of firm. For full details of the permissions covered by each pricing category, see further down the page. Please note, the application fee is separate from the FCA annual fee.
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