Reference Case Number: FOI10816
Freedom of Information: Right to know request:
Please provide:
• The average time taken for the Financial Conduct Authority to process new authorizations for firms
• The average time taken for the FCA to process Section 178 notices (change of control of a firm)
I would like this data for the last year with a year-end of 31 October 2023 or whichever year-end is most convenient.
Clarified Request:
To clarify, I'm looking to find data for both pre and post notifications.
FCA response:
We can confirm that during the ‘year ended 31 October 2023’, new authorisations (including solo-regulated Part 4A cancellations and PSD/E-Money registrations and authorisations) took an average of 153.5 days and a median of 106.5 days to determine.
To add, change in control pre-note applications took an average of 65 days and a median of 50 days to determine.