Submitting your application

Before submitting your application, you should have finalised your commercial and regulatory business plan, decided on what approval you need, organised your resources, and be ready to complete and submit our application forms. 

Use Connect to submit your application to us.

Find out how to apply for authorisation using our online system Connect.

Forms

You will need to log on to Connect to create your application pack to submit your application to us.

Based on the type of asset manager you are and the directive under which you need authorisation or registration, you will need the following forms.

Firm type

Forms

Further information

Handbook rules

EU Directives and Regulations

AIFMs

UK AIFMs forms

AIFMD

PERG 16

AIFMD Level 1 

AIFMD Level 2 

UK AIFMR

EuSEF Regulation

EuVECA Regulation

MiFID

Applications and notifications under MiFID II

MiFID II

PERG 13

MiFID II Level 1

MiFID II RTS & ITS

MiFIR

UCITS

How to apply for authorisation

Please submit a standard IMF pack

 

UCITS V: new requirements for managers and depositaries

 

COLLG 1A

UCITS IV

Residual CIS

 

How to apply for authorisation

Please submit a standard IMF pack

 

 

 

Authorised funds

 

Apply for fund authorisation

 

 

Authorised and recognised funds

 

See UCITS and AIFMD

See UCITS and AIFMD

Recognised funds

Apply for fund authorisation

Authorised and recognised funds

See UCITS and AIFMD

See UCITS and AIFMD

What happens to your application

We will let you know when a case officer has been assigned and keep you up to date with how your application is progressing. You can contact your case officer over email and over phone to:

  • discuss your application progress
  • understand the authorisation process
  • obtain clarification on review queries

If you case officer needs clarity on any information during the assessment period, they will contact you by email. Once you have responded your case officer will consider your application in light of new information received from you. They might contact you more than once for more information.

If you are successful we will write to confirm your authorisation. If you are unsuccessful we will write to you to explain why we are refusing to authorise you.

You can withdraw your application at any point in time. Please note that we cannot make a fee refund to you in most circumstances. Find out more about our authorisation process.

How we determine your application

We consider every application against the relevant conditions in:

  • FSMA
  • UK statutory instruments
  • EU Directive
  • our Handbook rules

All authorisation applications need to meet FSMA threshold conditions while AIFM small registration applications do not specifically need to meet threshold conditions in the same manner as a FSMA authorised firm.

We generally expect firms to be ready, willing, and able to conduct the business they are applying for. However, we also acknowledge that sometimes firms may undergo a change in their business model and want to make minor changes to their submission, while a determination of application is still underway.

Such changes could include scope of permission applied for, approved persons applied for, controllers, policies and procedures etc. We expect you to notify your case officer of possible changes before implementing those changes so that the case officer will be able to advise you if the changes can be included in the same application. Generally, we do accept minor changes to the application, however some changes require a completely new and separate application. This is determined on a case by case basis.

Timings

We must make a decision on your application within statutory time frames.

EU Directive/FSMA

Decision made for complete application within:

Decision made from receipt of application within:

MiFID

6 months

12 months

AIFMD – small registered

3 months

6 months

AIFMD – small authorised

6 months

12 months

AIFMD full scope

3 months (extendable if required)

-

UCITS

6 months

12 months

Non AIF non UCITS FSMA firm

6 months

12 months

'Minded to authorisation' or 'subject to authorisation' stage

We understand that it can be difficult to infuse regulatory capital, invest in expensive IT systems or other resource intensive aspects of the business, before you have more certainty on your authorisation request. In light of this, we try and notify you when we are minded to approve your application with a list of final information and/or evidence we need from you before we can approve your application.

To reach the minded to authorise stage, we will still need to review the planning and design element of those aspects to satisfy ourselves that once fully executed and implemented after the minded to authorisation stage, those systems, controls etc would meet and continue to meet the threshold conditions required by our rules for the firm to achieve authorisation.

The following could be allowed after a minded to decision (depending on your specific application situation):

  • evidence of capitalisation of firm
  • evidence of installation and testing of IT systems
  • evidence of contact execution with vendors, employees etc
  • evidence of completion of any specific training needed for individuals
  • evidence of relocation of individuals to the UK
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