Landing slots for firms in the TPR

Find out what to do when you’ve received your landing slot to apply for full authorisation in the UK.

The information on this page is only applicable to firms in the TPR that previously passported into the UK under Schedule 3 or Schedule 4 to FSMA. This information is not applicable to payments institutions, registered account information service providers and electronic money institutions in the TPR that previously passported into the UK.

 

Now that the temporary permissions regime (TPR) is in force, we have started to email formal directions to firms in the TPR confirming their ‘landing slot’.

This is the period when your firm can apply:

  • for full (non-temporary) Part 4A permission
  • to vary your existing Part 4A permission if your firm has a UK top-up permission

Opening and closing dates

The direction we will send to you specifies when your firm must submit its application for either type of permission above. This can be no earlier than the opening date and no later than the closing date.

If you submit your application before your opening date

In line with our direction, it will be disregarded and may be destroyed.

However, you can request to change your opening date (see below).

If you don’t submit an application before your closing date

We can cancel your firm’s temporary permission.

In this situation, we’ll serve your firm a decision notice stating the date that your temporary permission ends. Then, if your firm is eligible, it will move into the supervised run-off (SRO) mechanism, which is part of the Financial Services Contracts Regime.

We can also decide when a firm is not to enter SRO. Here, the firm’s temporary permission will come to an end with the decision notice and the firm will no longer be permitted to carry on a regulated activity in the UK (unless an exclusion applies).

Submitting an application

Please allow plenty of time to prepare your firm’s application.

You’ll need to submit it using our Connect system.

You should first read:

You can also choose not to submit an application, and to cancel your firm’s temporary permission instead. If your firm does this and it requires permission to perform existing contracts, it will move into the SRO mechanism.

Find out more about cancelling a temporary permission.

Frequently asked questions