Interim permission - Financial Conduct Authority

Interim permission

Published: 02/07/2014
If you held an OFT licence and want to continue carrying out consumer credit activities, you had to register for interim permission by 31 March 2014. Find out more about interim permission.

Firms that held an Office of Fair Trading (OFT) licence and registered for interim permission can continue carrying out consumer credit activities until we invite them to apply for authorisation in an allocated application period. Find out more about when to apply for authorisation.

If you or your firm held an OFT licence and did not register for interim permission, you cannot legally continue carrying out consumer credit activities.

If you held an OFT licence but exited the market by 1 April 2014 you should tell us you have stopped consumer credit activities.

If you are a new consumer credit firm – so did not have an OFT licence and did not submit an application for one to the OFT by 31 March 2014 – you can apply for authorisation.

If you are a new consumer credit firm you can apply for authorisation. If you have interim permission we will tell you when to apply for authorisation.

Amending your interim permission

A firm with interim permission can use the consumer credit interim (CCI) system to amend its basic details such as address and firm name. You can see our consumer credit interim (CCI) system user guide (pdf) for further information.

You can also use the consumer credit interim (CCI) system to reduce the scope of your permissions.

If you applied to the OFT to change your licence permissions before 31 March 2014, your application was transferred to us and we will write to you with an update before the end of April.

However, you cannot add permissions to the scope of your interim permission, and would need to do so as part of an authorisation application.

A firm with interim permission can only apply for authorisation outside its allocated application period in limited circumstances. You can find out more about allocated application periods.

You can check when to apply for authorisation and find out more about applying for authorisation.

Cancelling your interim permission

If you want to cancel your interim permission you can see and cancel your permissions.

If you have interim permission but do not want to apply for authorisation or variation of permission, please email application.period@fca.org.uk to let us know, with your OFT licence number (if applicable) in the subject line.

If you do not apply for authorisation within your allocated application period your interim permission will lapse and you will not be able to legally continue carrying out consumer credit activities.

You will need to take steps to ensure that all consumer credit activities for which authorisation would be required cease before the end of your application period. You will also have to make sure that your firm’s customers, and any client money held, are dealt with appropriately.

Further information

You can see our final rules for consumer credit firms and a guide to being regulated by us.