In December 2017, we published Our Approach to Authorisation consultation paper. This was the start of a formal consultation with our stakeholders about authorisation and how it fits into the FCA’s overall regulatory system and decision-making framework. The feedback we got during the consultation was supportive of our approach and we have used it to inform our Approach to Authorisation and feedback statement.
The Approach to Authorisation and feedback statement, published today, explain the purpose of authorisation and our approach. We want to ensure that firms and individuals who apply to be authorised, or approved, understand how we test that they will comply with our regulations, which aim to serve the public interest.
In our revised Approach to Authorisation we have clarified and/or added further detail around:
The Approach to Authorisation is part of the series of documents that we committed to in Our Mission, providing transparency to our activities and explaining our approach in more depth.