Find out which permissions to apply for in order to become authorised.
- £1,500 for firms applying to deal as principal with a matched principal broker limitation
- £5,000 for moderately complex securities and futures firms
- £25,000 for multilateral trading facilities (MTFs) and organised trading facilities (OTF)
Typical permissions required
- dealing as principal
- investments: advising, arranging deals, dealing as agent, making arrangements with a view to transactions
- agreeing to carry on regulated activities
- arranging safeguarding and administration of assets
- safeguarding and administration of assets
Examples of moderately complex securities and futures firms
- Firms that deal as a principal or agent and clear and settle their own transactions, subject to market risk
- Brokers that are the main party to a transaction, acting as buyer/seller for their own account and risk
Moderately complex securities and futures firms may hold and control client money.
MTFs or OTFs applying for permission should contact us first to arrange a pre-application meeting; these applications can take longer to process.
- See our Handbook for a full list of activities you can apply for
- Check the definition of an IFPRU firm
- To find out which sourcebook your firm should refer to, see PERG 13.6, questions 60 to 66
- Check fees for moderately complex securities and futures firms