The FCA has recently published its authorisations metrics for solo-regulated firms, which cover July to September 2023 inclusive.
Operating service metrics data is published quarterly, with the aim of providing greater transparency of the regulator's performance.
The Q2 data shows that 96.8% of applications across all metric areas were determined within the statutory deadline. The data also shows that complete and comprehensive applications are likely to be determined in good time. By contrast, incomplete, poor quality and more complex applications result in the statutory timelines (and targets) not always being met.
The operating metrics are reported on using a Red/Amber/Green (RAG) rating system. Of the16 operating service metrics the latest report states 8 metrics are green, 6 are amber and 2 are red. 4 metrics currently showing amber are withing 1% of becoming green. To review all the current operating metrics please click here.
Data for the third quarter of 2023 will be published in February 2024.