In this article, we briefly cover how long to expect when firms are submitting their applications for authorisations to the Financial Conduct Authority (FCA).
It can take approximately 18 weeks for the FCA to complete its review of an authorisation application. It is important to factor this into your firm’s planning and timescales.
Once submitted, it takes around 3 or 4 weeks for a case officer to be appointed to review your application.
The timescale for a decision depends on the complexity of the application, any issues raised by the case officer, and whether you need to provide follow-up documentation.
The statutory timeframe under Financial Services and Markets Act (FSMA) for the FCA to determine your application depends on whether it is “complete” (6 months) or “incomplete” (12 months). Do not be alarmed! The case officer will deem an application complete when they have all of the informatio