True Potential managing partner David Harrison today met with FSA executives to discuss ways to speed up the application process for firms seeking direct authorisation.
The support services provider, which is handling the application process on behalf of new members, says the average authorisation time is approaching six months. Among Harrison's suggestions for quickening the process was enabling firms to apply electronically. True Potential says it has overseen completed applications for 90 firms so far in 2010, but that 197 cases remain pending. Senior partner Daniel Harrison says: "We need to speed up an application process that used to take six weeks but now takes six months. It is the sheer quantity of applications the FSA is handling." As...
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