We intend on launching a range of How-To articles to help you understand and resolve your ongoing regulatory compliance matters. Our first instalment is a guide on how to write a regulatory business plan.
What is the business plan?
It is crucial that your business model provides the regulator with clarity on how your firm makes money, and what risks may be prevalent for consumers.
You will need to provide the FCA with a regulatory business plan setting out the rationale for making the application. The FCA is not looking for a lengthy document, generally, an 8-10 page business plan is about the right length. It should cover:
Background information about your firm and the permissions it is seeking to hold;
Information about the services you will provide;
The governance arrangements of your firm;