FCA sets faster authorisation targets

The FCA has recently announced its plans to speed up the processes for firms and individuals seeking authorisation, with a view to these changes supporting UK growth and competitiveness.

This is a positive announcement for our existing and prospective clients and ties in with the UK government’s growth agenda and the FCA’s 5-year strategy to become a “smarter regulator” i.e. more efficient and effective.

The new authorisation timelines incorporate both statutory deadlines set by HM Treasury as well as voluntary authorisations KPIs and metrics set out by the regulator in a letter to Rachel Reeves (Chancellor) in July this year.

Despite the new reduced lead-times however the FCA has emphasised that a robust authorisation process will be maintained.

The new targets include:

• Statutory: New firm authorisations and variations of permission applications will now be completed in 4 months (rather than 6 months) for complete applications, and 10 months (currently 12 months) for incomplete applications.

• Voluntary: Variations of permission applications, where the new permissions closely align to the existing business model, will be set at 3 months for complete applications and 6 months for incomplete applications.

• Voluntary: Payments and e-money firm authorisations and registrations remain unchanged and will be completed in 3 months for complete applications, and 10 months (reduced from 12 months) for incomplete applications.

• Voluntary/Statutory: At least half of all senior manager regime applications will be completed within 35 days with a proposed new statutory deadline of 2 months (currently 3 months) for all applications.

Additionally, the new targets will give firms some time to address any feedback and remedy queries which should further reduce the risk of increased authorisation refusals.

Performance against the new targets set will be measured from January 2026.

How can Adempi help with your authorisation?

Adempi helps firms and individuals navigate the FCA authorisation process with confidence. Our experienced compliance consultants offer application support, tailored regulatory advice and training to help you prepare for operating under FCA requirements. If you’re considering becoming FCA authorised, we’d be delighted to have an initial discussion with you.

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If you’d like to speak to one of the team, you can reach us by email at contact@adempi.co.uk or on 0203 925 4761.