What to expect after you submit to us your application for authorisation.
We will make a decision on complete applications within 6 months. If your application is incomplete, we must make a decision within 12 months.
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Find out more about the application process and our commitments
We’ll write to you confirming your ‘Part 4A permission’ authorisation. Your Scope of Permission notice will state which regulated activities you have permission to carry out, when your permission starts and which requirements or limitations you’ve requested.
Upon authorisation, our Financial Services Register will be updated automatically.
If we do not consider your application meets the standard for authorisation, we will recommend to a senior FCA committee that it is refused. If they agree, you will be sent a warning notice stating that the FCA is proposing to refuse to authorise you and explaining why. At this point, we’ll tell you how you can go on to make representations before the FCA makes its final decision.
Withdrawing an application
You can withdraw your application at any time during the authorisation process. Common reasons for doing this include:
- not having all the information we require and so deciding to resubmit an application later
- unintentionally delaying responses to our questions with the result that we miss our legal deadlines
- understanding that authorisation is likely to be refused
Unfortunately, we cannot refund your application fee in any of these circumstances.
It’s possible to make a successful subsequent application after an application has been withdrawn.
- See our Handbook for what we mean by ‘threshold conditions’
- Check our Financial Services Register
- Check our Consumer Credit Interim Permission Register
- Find out how to challenge an unsuccessful application through the Regulatory Decisions Committee
- Banks, credit unions and insurance firms are regulated by both the PRA and the FCA. Find out about dual authorisation