Corporate finance advisers and authorisation

Find out which permissions to apply for in order to become authorised.

Application fee

Category 4

Corporate finance adviser

Corporate finance firms are usually associated with transactions where capital is raised to create, develop, grow or acquire businesses, or in mergers and takeover transactions.

Typical permissions required 

  • advising on investments
  • arranging deals in investments
  • agreeing to carry on regulated activities
  • making arrangements with a view to transactions in investments

A requirement will be added to the firm’s permission ‘not to conduct designated investment business other than corporate finance business’.

Financial resource requirement

A corporate finance firm may be a MiFID investment firm or a non-MiFID firm (eg an Article 3 MiFID exempt firm).

With the activities and requirement outlined above, firms will generally refer to IPRU(INV) Chapter 3 and not come under MiFID. There will also be the requirement not to hold or to control client money. The financial resource requirement for a non-MiFID corporate finance firm is that it must maintain tangible net worth and net assets greater than £10,000.  

If the firm is a MiFID investment firm, it will be subject to the prudential requirements our rules set out in MIFIDPRU (prudential sourcebook for investment firms).

Detailed information

See IPRU(INV) Chapter 3

See MIFIDPRU

To see which sourcebook your firm should refer to, refer to the Notes to the MiFID Annex

For more information on fees please see FEES 3 Annex 1A or pricing categories for application fees.

Page updates

04/01/2022: Information changed Updated to reflect the IFPR coming into force on 1 January 2022
15/12/2021: Information added IFPR update