We report our Authorisations metrics quarterly to provide greater transparency of our performance. This data covers January to March 2026.
We want to make sure the UK is the best place in the world for financial services to thrive. This includes providing an effective and efficient Authorisations service while maintaining high standards to protect customers and to further bolster the reputation of the UK market.
Download Authorisations operating service metrics 2025/26 Q4 (PDF)
This is the second quarter (2025/26 Q4) we are reporting against our new targets. Some of these reduced timelines will be reflected in proposed statutory deadlines consulted on by the Government and some reflect our own new, faster targets.
As part of our work to support UK growth, we have decided to voluntarily begin working towards these faster targets ahead of any legislation. These targets are deliberately ambitious and meeting them will require further changes to our ways of working and supporting systems over time.
We will publish our performance for the first quarter of 2026/27 in August 2026. This will include measurement of our performance solely against our new faster targets.
Our performance against our targets this quarter, including the new targets where they apply, show seven metrics are green, two are amber and two are red.
The red and amber metrics are due to some cases relating to New Firm Authorisations and Payment Services/E-Money Authorisations and Variations being determined after the applicable deadline where it was deemed necessary to spend more time reaching a decision. One case also missed the Change in Control deadline due to an operational error.
Against the old targets and using the previous RAG (red, amber, green) rating levels, the metrics would measure nine green, two amber, and no red.
97.6% of applications across all metric areas were determined within the deadlines, including new deadlines as reported. When considering our existing statutory deadlines only, 99.2% of cases were determined within the deadline.
Notes on the metrics and methodology
These metrics are for solo-regulated firms. The FCA and the Prudential Regulation Authority (PRA) work closely to authorise dual-regulated firms. The metrics for the authorisation of dual-regulated firms can be found on the Prudential Regulation Authority’s website.
We publish the lower quartile, median, and upper quartile of the range of calendar days taken for determination in each category of application. These are end-to-end timings measured from receipt of an application to determination. This shows that most applications are determined significantly ahead of the new deadlines. Applications that are complete and comprehensive are more likely to be determined in line with the new targets.
We have updated our RAG (Red, Amber, Green) thresholds, with Green now starting at 95% instead of 98%; this change does not apply to Change in Control (CIC), for which the threshold remains at 100%.
This brings our Authorisations metrics in line with the rest of our data publications and with the PRA’s metrics.
The complexity of some cases means that we will not always meet our statutory targets. In these cases, it is right that we take the time to make sure there is greater scrutiny and engagement with the firms involved.
Firms should look at our Authorisations pages and our examples of good practice and areas for improvement for guidance.