Information on applications received for the authorisations division

Reference Case Number: FOI9655

Freedom of Information: Right to know request:

Please could you provide information on the rejection, withdrawal and refusal rate (RWRR) for applications received for the Authorisations Division.

Firstly please could you set out the RWRR for the last 12 months, and the last 6 months for the following regulatory transactions:

New Firm Authorisations
Variations of Permission

Approved Persons (when it is an application to hold a Senior Management or Controlled Function)

Could these be provided as both a percentage RWRR, nominal RWRR and nominal rejection/withdrawal/refusal figures for each of the above transactions.

Could this also be provided for New Firm Authorisations only, over the last 12 months and the last 6 months

1. For each of the FCAs portfolios

2. Divided as above i.e.

Percentage RWRR for last 6 and 12 months
Nominal RWRR for last 6 and 12 months
Nominal rejections, withdrawals and refusals

Please could I ask that each of these requests is provided in a tabular format.

FCA response:

1. Please could you set out the RWRR for the last 12 months, and the last 6 months for the following regulatory transactions:

1.Please find below, rejection, withdrawal and refusal rates (RWRR) for the last 6, and 12 months respectively, for the following regulatory transactions:

New Firm Authorisations
Variations of Permission
Approved Persons (when it is an application to hold a Senior Management or Controlled Function)

6 months (Apr - Sep 2022)	Rejected	Withdrawn	Refused	Rate
New Authorisations	39	409	11	26%
Variations of Permission	19	141	0	16%
Approved Person	46	436	0	6%

12 months (Oct 2021 - Sep 2022)	Rejected	Withdrawn	Refused	Rate
New Authorisations	144	810	20	27%
Variations of Permission	36	278	1	14%
Approved Person	97	799	0	6%

2. Could these be provided as both a percentage RWRR, nominal RWRR and nominal rejection/withdrawal/refusal figures for each of the above transactions.

2. Please find below, RWRR for New Firm Authorisations only, over the last 6 and 12 months respectively, for each of the FCAs portfolios.

6 months (New Authorisations only)	Rejected	Withdrawn	Refused	Rate
General Insurance & Protection	0	14	1	24%
Investment Management	0	34	0	44%
Pensions & Retirement Income	1	14	1	62%
Retail Banking	0	51	0	85%
Retail Investments	13	31	1	45%
Retail Lending	17	208	8	17%
Wholesale Financial Markets	3	21	0	62%
Not recorded	5	36	0	100%

12 months (New Authorisations only)	Rejected	Withdrawn	Refused	Rate
General Insurance & Protection	2	43	1	34%
Investment Management	2	67	0	42%
Pensions & Retirement Income	2	17	1	67%
Retail Banking	0	97	0	75%
Retail Investments	23	56	1	34%
Retail Lending	98	433	17	20%
Wholesale Financial Markets	3	34	0	49%
Not recorded	14	63	0	99%

Please note that:

withdrawn figures contain both those cases withdrawn after FCA scrutiny and those withdrawn under the firm's own volition; and
cases subject to final PRA decision are not included.

Date of Release: 24/10/2022

Information on applications received for the authorisations division - October 2022

Freedom of Information: Right to know request:

FCA response:

1. Please could you set out the RWRR for the last 12 months, and the last 6 months for the following regulatory transactions:

2. Could these be provided as both a percentage RWRR, nominal RWRR and nominal rejection/withdrawal/refusal figures for each of the above transactions.

More information

Data