FCA to shorten authorisation timelines

Reduced from six to four months for complete applications

Sahar Nazir
clock • 1 min read

The Financial Conduct Authority (FCA) will reduce the time it takes to process a range of authorisation applications from January next year.

The changes include both statutory deadlines, subject to government consultation, and voluntary service targets outlined in a letter from FCA CEO Nikhil Rathi to the chancellor. Under the proposals, statutory timelines for new firm authorisations and variations of permission (VoP) applications will be shortened from six to four months for complete applications, and from 12 to 10 months for incomplete ones. For VoP applications that are closely aligned with a firm's existing business model, the FCA will adopt voluntary targets of three months for complete applications and six months fo...

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