FCA Authorisation and Variation of Permissions (VOP) doesn’t have to be a painful process. You need experience, expertise and a collaborative partner to prepare you for successful authorisation.
Having the correct authorisation is your license-to-operate. Without it, you are acting ‘outside the perimeter’ which, in the worst case scenario can lead to imprisonment. In our experience, the FCA has little patience for firms who don’t make sufficient effort to understand what permissions they need.
We help you understand how your business model will fit into the regulatory regime and ensure you don’t overburden the business with permissions that aren’t required. You need to demonstrate to the regulator that you have a good understanding of your regulatory responsibilities and that your senior management team are well-equipped to manage the business competently.
How can we help?
TCC provides a bespoke service to meet your needs. This could include completing the entire pack for the relevant permissions required or providing support and guidance at various points along the way.
Completing the FCA’s standard forms is the ‘easy’ part – the real challenge is understanding the FCA’s expectations of effective systems and controls and compliance procedures. At TCC, we assist our clients in developing and improving the required supporting documentation so it is sure to meet the FCA’s standards.
As specialists in culture and conduct risk, we know the importance of having a clear business plan to support your application. You must have a coherent business model documented in a clear business plan, demonstrating that your strategy is compatible with your intended regulated activities and is synonymous with the FCA’s agenda for protecting consumers, market integrity and competition. Our focus lies in ensuring your business plan sets out a robust business model and strategy that clearly articulates the business proposition, target markets, distribution and how you will manage your conduct risk.
We also provide coaching, education sessions and refresher training for your senior management team or staff.
Why partner with TCC?
- Experience – we have been supporting firms in FSA/FCA authorisation for more than fifteen years and it remains one of our most popular services.
- Efficiency – we know where you should be placing your efforts and resources. Engaging with TCC can save you significant work and time.
- Partnership – our collaborative approach teaches your staff and improves your processes for effective compliance and risk management that endures beyond authorisation.