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FCA Authorisation

Leveraging years of expertise and experience to guide you through the end-to-end process of FCA authorisation, ensuring a smooth and successful application

Connect with Our Trusted FCA Authorisation Experts

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Expert Guidance for FCA Registration

Successful FCA Authorisation Client Testimonial

"We engaged Buckingham Capital Consulting to support us in obtaining our FCA authorisation, and their expertise and guidance have been instrumental in navigating the complex licencing process.

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Buckingham Capital Consulting demonstrated a deep understanding of the regulatory requirements and provided us with valuable insights and recommendations four our FCA authorisation application. They guided us through the entire process, from the initial preparation and submission of the application to addressing any inquiries from the FCA.

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Their team worked diligently to ensure that our application was comprehensive, accurate, and aligned with the specific requirements. Their expertise in licencing procedures and their attention to detail helped us streamline the application process.

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Throughout the engagement, Buckingham Capital Consulting provided ongoing support and expertise, ensuring that we were well-prepared for any interviews or assessments required by the FCA. Their guidance gave us confidence in our ability to meet the FCA authorisation requirements and compliance obligations."

Why Buckingham Capital Consulting: Trusted Experts in FCA Authorisation

Proven expertise, trusted support, and a track record of success in FCA authorisation

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Expertise from Trusted FCA Authorisation Licence Experts

At Buckingham Capital Consulting, our team comprises professionals with extensive experience in regulatory matters. We have successfully supported hundreds of firms in achieving FCA authorisation, offering practical solutions tailored to meet the specific regulatory needs of each client. Our focus is on ensuring that your firm is well-prepared and fully compliant with all necessary regulations.

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Comprehensive FCA Authorisation Services

​Buckingham Capital Consulting provides a full range of services to support your FCA authorisation process, covering everything from the initial consultation to achieving full regulatory approval. Our thorough approach ensures that your firm is ready for fast-track authorisation, with detailed attention given to every aspect of the process. We offer same-day consultations and a complete FCA set-up service, guiding you efficiently through the complexities of regulatory compliance.

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Proven Success in FCA Authorisation

With significant experience in regulatory consulting, Buckingham Capital Consulting has a strong record of helping firms navigate the FCA authorisation process effectively. Our expertise in streamlining the authorisation process allows us to deliver timely and successful outcomes. We provide resources such as a free FCA authorisation guide and offer flexible instalment plans to help manage the financial aspects of becoming compliant.

4 Steps to obtain FCA Authorisation Successfully

A complete step-by-step process for securing FCA authorisation in the UK

Step 1

Pre-Application Preparation

The first step in the FCA authorisation process involves thoroughly understanding the FCA’s regulatory framework. This is crucial for ensuring that your business—whether a Payment Institution (PI), Electronic Money Institution (EMI), crypto-asset firm, or engaged in investment services—aligns its operations with FCA standards. Our experts will help you map your business model, governance, and operational procedures to meet these regulatory requirements. Proper preparation is the foundation for a successful application, positioning your firm to meet all FCA expectations before submitting your formal application. This strategic planning ensures that you address potential regulatory challenges upfront, avoiding costly delays later in the process. By partnering with our experienced team, you can navigate this complex landscape with confidence, ensuring your business is fully prepared.

Step 2

Pre-Application Documentation

The second step involves gathering and organising all necessary documentation for your FCA authorisation application. This includes preparing a detailed business plan that covers your objectives, strategies, financial projections, and risk management protocols tailored to your sector—whether you operate in payment services, e-money, crypto-assets, or investment services. Additionally, your governance structure must clearly define the roles and qualifications of senior management to meet FCA standards. Ensuring robust risk management policies are in place is also critical. These documents must comprehensively demonstrate that your firm meets the FCA’s threshold conditions, including sufficient financial resources, competent management, and a sound business model. Thorough documentation is crucial for moving smoothly through the FCA’s rigorous review process, helping to avoid any unnecessary delays or requests for additional information.

Step 3

Submission via FCA Connect

In the third step, you submit your FCA authorisation application through the FCA Connect portal. This stage requires meticulous attention to detail to ensure that every form is correctly filled out and all required documents are attached. The application fee must also be paid at this time. Once submitted, the FCA will begin its detailed review process, which usually takes several months. Our team, with extensive expertise in PIs, EMIs, crypto-assets, and investment services, will guide you through this process, ensuring that your application is as strong as possible. We’ll help you address any issues that might arise during this review period, minimising the chances of delays or additional requests for information from the FCA. Proper submission is essential to keeping the authorisation process on track.

Step 4

Post-Submission Review and Engagement

The final step involves engaging with the FCA during their post-submission review. During this period, the FCA may request additional information or clarification, particularly in complex areas such as payment services, e-money, and crypto-assets. Prompt and accurate responses are essential to avoid delays in the authorisation process. Maintaining open communication with the FCA is crucial, and our team will assist you in managing this engagement effectively. We ensure that your application continues to progress smoothly, addressing any concerns the FCA might have. Once the FCA is satisfied that all requirements are met, your authorisation will be granted, allowing your firm to operate within the UK’s regulated financial market legally. This final stage is crucial for securing your firm’s place in the financial industry.
 

Download our free guide on FCA registration and authorisation and how to ensure a successful outcome with your application.

Our Services for FCA Authorisation

Since 2013, we have helped hundreds of clients with their FCA authorisation applications. We can help you navigate the FCA authorisation process smoothly and successfully, providing end-to-end support with your FCA licence application. Our fast-track service includes full support, application policy writing, compliance, and setup, ensuring a seamless and efficient authorisation journey.

FCA authorisation 

We can help advise on the requirements and prepare your application for successful FCA authorisation applications in the quickest time possible. We also help manage communication with the FCA.

EU licence applications

We help clients in several European countries, including Ireland, Lithuania, the Netherlands, Germany, Italy, France, and Estonia. 

FCA authorisation across multiple sectors

We help clients obtain FCA authorisation applications, including, payment institution, electronic money institution, consumer credit, investment services, lending, credit broking and cryptoasset firms. 

FCA Variation of permission (VOP) application support

We can review your business activities and modify your permissions by preparing and managing FCA variation of permission applications.

FCA Appointed representative application support

If you are thinking of becoming an agent or an appointed representative with a principle firm, we can prepare and manage your application.

FCA Change of control application support

If you have acquired a ready-made firm and require assistance with a change of control application then we can help manage the regulatory process on an end-to-end basis.

Feel free to reach out if you need something more bespoke or have specific requirements that aren't listed above. We're here to help and would love to discuss how we can support you.

Our People

Our team of regulatory and compliance experts brings together diverse backgrounds in banking, consulting, legal, financial, and regulatory sectors. This collective experience provides us with a comprehensive understanding of the unique challenges our clients face. When you choose to work with us, you’ll benefit from the personalised attention of seasoned professionals, often at the director level, ensuring you have direct access to senior experts. Our team combines robust regulatory knowledge with commercial insight, delving deep into your business to tailor unique solutions specifically suited to your needs. This approach ensures we address your challenges effectively and support your success.

Our FCA Authorisation Success Stories

Working on Tablet

Project: Nexpay

Overview
Dzing Financial approached us to help them obtain their EMI authorisation and establish a robust compliance framework. They needed comprehensive support to ensure they met all regulatory requirements and could operate smoothly in the competitive financial markets of the UK and Europe. Our goal was to provide end-to-end assistance, from application submission to ongoing compliance management.

Scope of our work

Comprehensive application preparation and submission.

  1. Development of compliance policies and procedures.

  2. Risk assessment and mitigation planning.

  3. Integration of anti-money laundering (AML) systems.

  4. Staff training on regulatory compliance.


​Outcomes delivered

  1. Successfully secured EMI authorisation from the FCA.

  2. Implemented a comprehensive compliance framework tailored to regulatory requirements.

  3. Enhanced risk management processes to ensure ongoing compliance.

  4. Integrated advanced AML systems to prevent financial crimes.

  5. Equipped staff with the knowledge and tools to maintain compliance.


Conclusion
By partnering with us, Dzing Financial was able to navigate the complex EMI authorisation process efficiently and effectively. Our comprehensive support ensured they not only met all regulatory requirements but also established a solid foundation for future growth. 

Work Meeting

Overview

Global Send sought our expertise to guide them through the Authorised Payment Institution (API) licence authorisation process. As a growing payment institution, they needed detailed support to meet regulatory requirements and establish a strong compliance framework for their international money transfer services.

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Scope of our work

  1. Detailed project planning and regulatory roadmap development.

  2. Preparation and submission of API authorisation application.

  3. Compliance audit and gap analysis.

  4. Implementation of compliance monitoring systems.

  5. Continuous compliance advisory and support.

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Outcomes delivered

  1. Achieved successful API authorisation, enabling market entry.

  2. Developed a clear regulatory roadmap, ensuring smooth compliance.

  3. Identified and addressed compliance gaps through a thorough audit.

  4. Implemented effective monitoring systems for ongoing regulatory adherence.

  5. Provided continuous support, ensuring Global Send stays compliant and up-to-date with regulations.

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Conclusion

Our guidance enabled Global Send to secure their API licence and establish a robust compliance framework. The value delivered included successful authorisation, effective compliance strategies, and the ability to focus on growth while maintaining regulatory adherence.

Project: Global Send

Office talks

Project: Onpoint Money

Overview

OnPoint Money Transfer required assistance in obtaining their SPI (Small Payment Institution) registration. They needed expert guidance to navigate the regulatory requirements and implement efficient operational processes to support their money transfer services.

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Scope of our work

  1. SPI registration application preparation and submission.

  2. Creation of compliance policies and procedures.

  3. Financial management support, including reporting and audits.

  4. Integration of technology solutions for compliance and operations.

  5. Ongoing compliance and regulatory support.

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Outcomes delivered

  1. Successfully obtained SPI registration, allowing OnPoint to operate legally.

  2. Established strong compliance policies and procedures.

  3. Improved financial management practices, ensuring regulatory compliance.

  4. Integrated advanced technology solutions to streamline operations.

  5. Provided ongoing support, maintaining regulatory compliance and operational efficiency.

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Conclusion

Our comprehensive support enabled OnPoint Money Transfer to achieve SPI registration and enhance their operational and compliance frameworks. The value delivered included a smooth registration process, robust compliance and financial management practices, and the integration of technology solutions that supported their operational efficiency and growth.

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Our 3-step process to help you obtain FCA Authorisation

Step 1: Initial Consultation and Assessment

We begin with a detailed consultation to understand your business model, assess regulatory requirements, and identify key areas needing attention for a strong application.

Step 2: Preparation and Documentation

Our experts assist in preparing comprehensive documentation, including business plans, compliance policies, and operational procedures, ensuring all regulatory standards are met and clearly presented.

Step 3: Submission and Ongoing Support

We submit your application to the FCA, maintain close communication to address any queries, and provide ongoing support to ensure continuous compliance and operational readiness.

Our Comprehensive FCA Authorisation Guide and FAQs

This guide provides a comprehensive overview of the FCA authorisation process, including key requirements and frequently asked questions to help your firm navigate the UK's regulatory landscape with confidence.

Introduction

Securing FCA authorisation is a vital process for any firm intending to operate within the UK's regulated financial markets. The FCA's stringent standards ensure that only firms with robust systems, competent management, and adequate resources are allowed to operate. This guide leverages over a century of combined experience in regulatory compliance and financial law to walk you through the entire FCA authorisation process. We’ll cover everything from initial preparations, including the crucial "Ready, Willing, and Organised" criteria, to the assessment of key individuals, ongoing capital requirements, and compliance obligations.

What is FCA authorisation?

FCA authorisation is the formal approval granted by the Financial Conduct Authority (FCA) that allows a firm to carry out specific regulated activities within the UK. This authorisation confirms that a firm has met the stringent standards set by the FCA, ensuring it can operate responsibly and in the best interests of consumers. The authorisation process involves a thorough assessment of the firm's business model, governance structure, financial stability, and the fitness and propriety of key individuals.

Sectors regulated by the FCA and requiring FCA authorisation

The FCA oversees a wide range of financial services sectors in the UK. Firms operating in the following sectors typically require FCA authorisation:

Banking: Including retail banks, wholesale banks, and building societies.
Insurance: Covering general insurance, life insurance, and reinsurance.
Investment Firms: Encompassing asset managers, investment advisors, and securities brokers.
Payment Services: Such as payment institutions, electronic money institutions (EMIs), and other firms offering payment services.
Consumer Credit: Including lenders and credit brokers.
Crypto-Assets: Firms involved in trading, exchange, or custody services.

These sectors are heavily regulated to ensure that firms operate with integrity, transparency, and in the best interests of their customers.

Do you require FCA authorisation?

Whether or not your firm requires FCA authorisation depends on the activities you intend to conduct. Under the Financial Services and Markets Act 2000 (FSMA), any firm carrying out specified regulated activities by way of business must be authorised by the FCA unless an exclusion or exemption applies.

Regulated activities include, but are not limited to:
 

  • Accepting deposits

  • Providing investment advice

  • Managing investments

  • Offering payment services

  • Issuing electronic money

  • Conducting consumer credit activities

  • Operating crypto-asset exchanges

FCA authorisation requirements and conditions

Securing FCA authorisation requires firms to meet several stringent requirements. These are designed to ensure that firms are financially stable, well-managed, and capable of complying with regulatory obligations. The key conditions include:

Threshold Conditions
Firms must satisfy the FCA’s threshold conditions, which are the minimum standards required for authorisation. These include:

- Business Model: Your business model must be sustainable, appropriate for the regulated activities, and aligned with consumer protection and market integrity.
- Effective Supervision: The FCA must be able to effectively supervise your firm, which requires transparent information about your operations.
- Location of Offices: Your firm’s head office and management must be based in the UK, ensuring jurisdictional control and effective supervision.
- Appropriate Resources: Adequate financial and non-financial resources must be available to support your business. This includes sufficient capital reserves and a skilled, trained and experienced team.
- Suitability: Your firm and its key personnel must be deemed fit and proper, demonstrating integrity, competence, and financial soundness.

Capital Requirements and Financial Adequacy
Your firm must demonstrate that it has sufficient capital to support its operations from the outset and on an ongoing basis. The FCA will assess your firm’s capital adequacy, ensuring that your business can withstand financial challenges and maintain operational stability. This includes both initial capital requirements and the ability to sustain financial health.

Systems and Controls
A robust system of controls is essential for managing risks and ensuring compliance with FCA regulations. This includes having effective internal controls, risk management procedures, financial controls, and IT systems. The FCA scrutinises these controls to ensure they are appropriate for the scale and complexity of your operations.

Governance and Compliance Framework
Your firm must establish a strong governance structure, with clearly defined roles and responsibilities for senior management. A comprehensive compliance framework is also required, covering areas such as Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and data protection. The FCA expects firms to maintain ongoing compliance with these regulations and to have effective procedures for managing compliance risks.

Consumer Duty
The FCA’s Consumer Duty rules require firms to act in the best interests of their customers, ensuring that they receive appropriate products and services and are not exposed to foreseeable harm. This involves implementing policies and procedures that promote fair treatment of customers, clear communication, and support for vulnerable consumers.

Exemptions and exclusions from FCA authorisation

Not all firms engaging in financial activities require FCA authorisation. Some exemptions and exclusions may apply, depending on the nature of the business and specific activities undertaken.

Exemptions
Certain firms may be exempt from needing direct FCA authorisation due to their operational structure. For instance, appointed representatives operate under the umbrella of an authorised firm, while professional firms like solicitors and accountants might be exempt when regulated activities are incidental to their primary business.

Exclusions
The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO) provides various exclusions. These allow firms to carry out certain activities without needing FCA authorisation, such as non-commercial agreements or specific investment-related activities.

Determining whether your firm qualifies for any of these exemptions or exclusions is essential and may require expert legal advice to ensure compliance.

Conclusion

Navigating the FCA authorisation process requires a comprehensive understanding of the regulatory landscape, thorough preparation, and ongoing commitment to compliance. By meeting the FCA’s threshold conditions and adhering to its stringent requirements, your firm can secure authorisation and establish a strong foundation for success in the UK’s regulated financial market. This guide, drawing on extensive regulatory expertise, is designed to help you achieve compliance and long-term success in the competitive financial industry.

At Buckingham Capital Consulting (BCC), we specialise in guiding firms through the entire FCA authorisation process, from initial assessment to full regulatory approval. Our team of experts manages every aspect of the application, ensuring your firm is fully prepared to become authorised and deliver regulated financial services with confidence. BCC's comprehensive support covers everything from strategic planning and documentation preparation to ongoing compliance management, ensuring your business not only meets but exceeds FCA expectations. With our end-to-end service, we help firms navigate complexities and achieve success in their regulated activities.

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