A waiver or modification will be specific to the agreement submitted with the application. If any terms of the agreement have changed, a new waiver or modification may be required.
If your firm’s business changes you should apply for a new waiver or modification, even if your firm is offering the same product.
Varying a waiver
Once we have given a waiver, we may vary it with your consent, on your application.
If you want us to vary a waiver, please submit an application via the Connect portal.
If we've given a waiver to several firms through a modification by consent, we may vary the waiver with the consent of affected firms following the procedures set out on our waivers and modifications by consent page.
Cancelling a waiver
If you want to cancel a waiver because it is no longer needed, please submit a notification to [email protected].
We will then take the necessary steps to remove the waiver from the Financial Services Register.
The FCA (or Prudential Regulation Authority) may revoke a waiver or modification at any time. We will consider if the conditions in the act are no longer satisfied and whether the waiver is otherwise no longer applicable.
Firms will receive written notice of revocation whether proposed or revoked with immediate effect. Firms usually have 28 days to make representations about the proposal or revocation. We will respond to these representations in writing. Responses will either confirm the revocation or seek the firm’s consent to a new waiver.