FSA authorisation time doubles in 12 months

In Q2, it took 21.1 weeks for financial services firms to get agreement from the FSA, up from 19.5 weeks in Q1, research from Reynolds Porter Chamberlain LLP (RPC) has shown. According to data obtained by London-based law firm Reynolds Porter Chamberlain (RPC), financial services firms waited more than 21 weeks for corporate authorisation in Q2 this year, compared to 12.2 weeks in the same period last year. There was an 8% jump from Q1 2010, when waiting times averaged 19.5 weeks, to Q2, when the figures say 21.1 weeks. Meanwhile, since Q1 2007, the waiting time has increased some ...