Guides and articles on compliance and how to apply for FCA and PRA authorisations

Guides and articles on compliance and how to apply for FCA and PRA authorisations2020-06-23T23:29:23+00:00
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Senior Management Function SMF Role Due Diligence Checklist Template | Assessment Questions| Auditor Notes and Declaration | Template for FCA Applications and Authorised Firms

1 SMF/CR Due Diligence Checklist AUDIT TYPE:                      INITIAL/ANNUAL/SPOT CHECK DATE:                                  ________________­ NAME OF AUDITOR:   _________________________ AUTHORISED BY:        ________________­­­­_________ 1. SMF/CF ROLES ASSESSMENT [...]

FIT Assessment Record Template and Assessor Declaration | Assessor and Employee Details | Fitness and Propriety | Checks and References | Training and Skills | Template for FCA Applications and Authorised Firms

Fitness and Propriety Assessment Record  Assessor & Employee DetailsASSESSOR NAME:  ASSESSMENTTYPE:First AssessmentNew RoleAnnual CertificationReassessment ASSESSOR ROLE:  ASSESSMENT DATE:  ASSESSMENT TIME:   NAME OF ASSESSED EMPLOYEE: CERTIFIED ROLE APPOINTED TO: DATE OF [...]

Suspicious Activity Report SAR Template | Guidance and Referencing Other Policies | Template for FCA Applications and Authorised Firms

1 Suspicious Activity Report (SAR) Template – Internal Reported to:               ________________________________  Reported by:              ________________________________  Position:                     _____________________  Date:                           _____________________  URGENT:        [...]

Financial Sanctions | FCA Handbook

What are financial sanctions? Financial sanction orders prohibit a firm from carrying out transactions with a person or organisations (known as the [...]

Outsourcing (SYSC 8.1) | FCA Handbook

A firm may outsource activities to a third party; however, it cannot outsource or delegate its regulatory responsibilities. When relying on a [...]

Background and introduction to FCA

In December 2001 HM Treasury announced its intention to regulate general insurance mediation activities through the Financial Services Authority. The regime is [...]

Statutory objectives of the FCA

The FCA Handbook is geared towards enabling the FCA to fulfil its statutory objectives as a regulator. These three key objectives are: [...]

The FCA’s approach

The FCA aims to use forward-looking and judgement based regulation. Regulation is carried out using a combination of methods including regular assessment [...]

FCA Handbook

The FCA Handbook is a collection of publications containing the rules and guidance used to regulate firms. The Handbook sets out: the [...]

Applying for FCA authorisation

To undertake general insurance distribution, consumer credit, payments or other regulated activities a firm will need to apply for and be granted [...]

Senior Managers & Certification Regime

The Senior Managers and Certification Regime (SM&CR) replaces the current Approved Persons regime for all solo regulated firms [1] on 9th December [...]

What are approved persons?

The UK legislation requires persons performing certain functions (referred to as "controlled functions") to be approved by the FCA in advance. These [...]

What legal entity do I need?

In order to benefit from the EU passporting regime, and to avoid bringing any non UK entity into the UK tax net, [...]

How much will it cost?

There are various levels of cost; initial and ongoing. Application and start-up costs: the costs of engaging a professional to assist with the [...]

How long does it take?

In relation to a MiFID firm, if the application is complete, the FCA is obliged to respond within six months. If the [...]

What are the threshold conditions?

The Threshold Conditions represent the minimum conditions which a firm is required to satisfy, and continue to satisfy, in order to be given and [...]

How do I become authorised?

You need to meet the Threshold Conditions, which are the FCA's minimum standards for becoming, and remaining, authorised; see below. The process [...]

Why do I need to be authorised?

Certain activities require regulation by the UK Financial Conduct Authority (FCA) if carried out in the UK. Carrying out these activities without [...]