The FCA backlog for pending authorisations has reduced by 40% in the last year.
In a recent speech, Sarah Pritchard, Executive Director (Markets), talked of the FCA's work to support the long term competitiveness and growth of the UK economy, by being an effective regulator.
"We know we need to do more to speed up some of our decision making. Last year, we made changes to enable us to be quicker and more efficient in stopping harm to consumers and markets.
Our backlog for pending authorisations has reduced by 40% in the last year and we are trialling automated application forms for companies which are easier to understand and quicker for us to assess."
If you decide that being directly authorised by the FCA is the best route for your business, our experience and expertise can help you navigate the authorisation process. Contact us now to help identify the risks and what you need to make sure you're FCA compliant.