Context
In a blog by Emily Shepherd, FCA Authorisations Chief Operating Officer and Executive Director, she explains that for firms to gain authorisation or registration, applicants must fill out the relevant application forms, which can be accessed via the Connect system. Firms also need to fill out a form to request changes to their permissions, for example to add or change Senior Manager Functions or to cancel permissions, among other things. The FCA has listened to client feedback and is therefore making improvements to the process to make it quicker and easier for firms and people to apply for authorisation.
Key points to note
The FCA is currently trialling changes to the Form A. This is used for Senior Management Functions and Controlled Functions applications and is one of the longest and most used forms. Once the FCA has completed the roll-out of improvements to Form A, it intends to make changes to other application forms.
The FCA asks that firms can also do their bit by making sure they know what needs to be included before they finalise their applications. The FCA do provide helpful advice on the Authorisations webpage.
Next actions
None – for information and awareness.