FCA and PRA Authorisations

Expert Guidance for FCA and PRA Authorisations

Achieving authorisation from the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) is a significant milestone for any financial services firm. The process requires careful planning, robust governance arrangements, credible financial projections and a clear demonstration that the firm meets the relevant Threshold Conditions. 

At Complyport, we do more than preparing application documents. We assess your business model, governance framework and systems and controls to ensure they meet regulatory expectations before submission. Our structured five-step approach is designed to reduce delays, address potential regulatory concerns early and support a well-prepared, regulator-ready application. 

OurAuthorisation Approach:A Structured Five-Step Plan

1. Identify the Relevant Permissions 

We begin with a detailed review of your proposed activities, regulatory permissions and overall business model. This enables us to identify the appropriate permissions and ensure that your structure, governance framework and financial resources are fully aligned with the applicable regulatory requirements. 

2. Develop a Robust Business Plan 

We prepare a robust business plan setting out clear strategic objectives and a defined target market, supported by detailed financial forecasts, governance and ownership structures, and a comprehensive risk assessment with corresponding mitigation measures. This structured, forward-looking approach is designed to position your application for a more efficient and streamlined regulatory review. 

3. Governance, Senior Management and Compliance Framework

We draft and refine all required documentation, including compliance policies and procedures, governance frameworks and risk management documentation and formal governance arrangements such as board structure and decision-making processes. We also support the identification and appointment of appropriate individuals for Senior Management Functions (SMFs), ensuring that fitness and propriety requirements are met through structured background checks, regulatory due diligence and references. 

4. Application Audit Review

The FCA or PRA require firms to demonstrate ongoing financial soundness, and this is frequently a key challenge for applicants. Firms must evidence that they meet the applicable minimum capital thresholds based on their regulatory category, maintain sufficient liquidity to meet obligations as they fall due, and produce credible financial forecasts demonstrating sustainability over the medium term. Where applicable, Professional Indemnity Insurance (PII) must also be obtained and maintained in line with regulatory requirements. 

5. Submit a Complete & Accurate Application 

We prepare and submit the application via the FCA’s Connect system, including all required forms, the Business Plan, policies, key agreements and financial projections. This may include Form A for Senior Management approvals and Controller assessments. We also ensure the correct FCA application fee is paid, as submission cannot proceed without it. Fees vary depending on the application type. 

 6. Post-Authorisation Support

Authorisation is not the end of the process. We provide ongoing compliance support, training for senior management and staff and support to ensure continued adherence to regulatory obligations and Threshold Conditions. 

We liaise directly with the FCA or PRA throughout the review process. We manage follow-up questions, prepare structured responses and support senior management in regulatory interviews where required. 


Key Benefits 

• Regulatory-focused applications customised to your firm’s business model 

• Early identification and mitigation of potential regulatory concerns 

• Clear, well-structured and credible submissions 

• Reduced risk of delays or avoidable challenges 

• Experienced support during regulator engagement 

• Continued compliance support following approval 

Why Complyport? 

Our consultants have extensive experience supporting firms across a wide range of regulated activities, including investment management, consumer credit, payment institutions, insurance intermediation and prudentially regulated firms. 

We understand how regulators assess governance, financial resilience, conduct risk and senior management suitability. This insight enables us to present your business model in a clear, coherent and regulator-focused manner.