The deadline in which to register for an interim permission with the FCA has now passed (31st March 2014). Firms with an interim permission from the FCA will be informed of their allocated application period, in which they can apply for direct authorisation.
Firms who either failed to register for interim permission by the deadline, or need to alter their interim permission can apply for direct authorisation from the FCA from the 1st April 2014. Directly authorised firms that wish to increase their permissions to include consumer credit activities can apply to the FCA for a Variation of Permission (VoP). We understand that this can be a complex and time consuming process for firms, especially those new to the FCA’s regulatory approach.
At Thistle Initiatives our experience of managing a large number of FCA authorisations suggests that a well thought through application leads to a much faster and generally hassle free conclusion.
We can advise you on whether or not your firm needs authorisation – and with the Consumer Regime still being defined and finalised, this is not always clear cut.
Should you need to proceed with FCA authorisation, then we can assist you through what may feel like a complex process, enabling you to benefit from our specialist knowledge. This is where our vast experience comes in.
Thistle Initiatives can help you to ensure that particular questions the FCA expects answers to have been effectively addressed, as well as assisting in helping you with the questions that will arise throughout the process. By knowing who to talk to and what to say, we aim to ensure that your FCA authorisation process runs as smoothly as possible.
An application completed correctly can lead to authorisation quicker than you may think.
For advice on FCA Interim and Full Authorisation for Consumer Credit activities please call us on 020 7436 0630.