Reference Case Number: FOI8464
Freedom of Information: Right to know request:
I would like to request updated information regarding organisations that have applied for the permission to "operate an electronic platform for lending" for the period 2014 though to present. Please would you tell me the number of:
• Applications for authorisation
• Applications for authorisation which were withdrawn
• Applications for authorisation which were approved
• Applications for authorisation which were rejected
• Applications for authorisation currently pending
I would appreciate it if this information could be tabulated into annual columns. Alternatively, please provide the date of each application and its corresponding date of withdrawal/approval/rejection.
Furthermore, I would like to know, of the firms that were approved, how many remain active on the FCA register and how many are suspended.
FCA response:
The below table sets out the information requested regarding organisations that have applied for the permission to ‘operate an electronic platform for lending’ for the period 2014 though to present:
| Year of Application | ||||||||
|---|---|---|---|---|---|---|---|---|
| Outcome | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| Approved | 5 | 7 | 16 | 42 | 9 | 3 | 2 | 2 |
| Currently Pending | 3 | 3 | ||||||
| Rejected | 5 | 1 | 2 | |||||
| Withdrawn | 17 | 55 | 56 | 27 | 15 | 11 | 7 | 2 |
| Total applications | 22 | 62 | 77 | 69 | 25 | 14 | 14 | 7 |
Please note the numbers provided differ in some instances from the information provided in our previous response reference FOI7149[1]. This is because applications may have moved on since we last responded combined with the fact the data is now extracted from a new system as we have migrated our data onto the new system.
We can also confirm of the firms shown as ‘Approved’ in the above table, 59 remain approved on our Register.
We cannot provide Suspension figures as we do not use the term ‘suspended’. Where firms have Cancelled, their status is recorded as ‘Cancelled’ regardless of whether this is the consequence of FCA Enforcement/Supervision action or a Cancellation at the firm’s own initiative. Firms may also have ‘Requirements’ placed on their permissions preventing them from undertaking regulated activities in certain respects. This, however, this would not equal a firm being suspended.