OE-M05: FCA Authorisations Operating Service Metrics
Description
Quartiles for time taken to complete determinations for FSMA firms:
- New firms
- Variation of permissions
- Change in Control
- Senior Managers
Q4 2024/25 - Determination times (days)
2025/26 values
Table: Time taken to complete determinations
| Activity | Lower Quartile | Median | Upper Quartile | Statutory Deadline |
|---|---|---|---|---|
| New firm authorisations | 83 | 125 | 187 | Within 180 days of receiving a complete application or 365 days of receiving an incomplete application. |
| Variation of permissions | 27 | 57 | 104 | Within 180 days of receiving a complete application or 365 days of receiving an incomplete application. |
| Change in control | 18 | 39 | 67 | Within 60 working days* of acknowledgement of receipt (s189(1)) |
| Senior manager regime | 14 | 25 | 41 | Within 90 days |
2024/25 values
Table: Time taken to complete determinations
| Activity | Lower Quartile | Median | Upper Quartile | Statutory Deadline |
|---|---|---|---|---|
| New firm authorisations | 63 | 112 | 192 | Within 180 days of receiving a complete application or 365 days of receiving an incomplete application. |
| Variation of permissions | 39 | 77 | 136 | Within 180 days of receiving a complete application or 365 days of receiving an incomplete application. |
| Change in control | 14 | 34 | 62 | Within 60 working days* of acknowledgement of receipt (s189(1)) |
| Senior manager approval | 27 | 40 | 58 | Within 90 days |
2023/24 values
Table: Time taken to complete determinations
| Activity | Lower Quartile | Median | Upper Quartile | Statutory Deadline |
|---|---|---|---|---|
| New firm authorisations | 63 | 111 | 199 | Within 180 days of receiving a complete application or 365 days of receiving an incomplete application. |
| Variation of permissions | 31 | 67 | 131 | Within 180 days of receiving a complete application or 365 days of receiving an incomplete application. |
| Change in control | 24 | 50 | 83 | Within 60 working days* of acknowledgement of receipt (s189(1)) |
| Senior manager approval | 27 | 41 | 63 | Within 90 days |
Source: FCA Authorisations operating service metrics
*For Change in Control, the statutory deadline is 60 working days (at least 84 calendar days) after receiving a ‘complete’ notification. We can pause the process once during that period, for a maximum of 30 days, to request further information from the applicant.
To make comparisons easier, the lower quartile, median and upper quartile figures are shown in calendar days for all processes. These measure the time from receipt of a notification, whether complete or not, to when we make a decision. Where a notification is incomplete, the total time between receipt and determination includes the time we spend requesting and waiting for the missing information.