| Link(s): |
| Getting firms fit to run | FCA |
Context
The FCA has published a speech delivered by Sheree Howard, FCA Executive Director of Authorisations, at the Association of Professional Compliance Consultants (APCC) Spring Conference 2026 in London. Howard was addressing the Compliance Consultancy sector but there are key messages for firms.
Key points to note and next actions
The speech likened the authorisation process, and the support provided in it by third-party Consultants, to the relationship between a runner in the London Marathon and a coach or trainer. The trainer may be able to prepare the runner for the event, but only the runner can actually run the race. For any firm going through an authorisation process, the Consultant is the support system, helping the firm to get authorisation-ready. When it comes to the decision to authorise or not, it is the firm’s competence that the FCA is assessing, not the Consultant’s.
- The authorisation process is demanding, and rightly so. A rigorous authorisation process is good for firms, consumers and the wider market.
- Third-party compliance consultants play a pivotal role in that process by helping firms create stronger applications – which leads to faster decisions.
- Upholding high standards is a shared responsibility. We are committed to working in partnership with the compliance community to meet it.
Howard explains that the authorisation process is not about putting obstacles in the way, rather it is about filtering out those who:
- aren’t ready or don’t have viable business models;
- have poor governance, systems and controls;
- don’t want to put the customer at the heart of their business; or
- are bad actors – those who are seeking authorisation for nefarious reasons.