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Download a practical FCA authorisation checklist: documents, governance, controls, and common gaps.
A comprehensive guide to preparing your FCA authorisation application. This checklist covers all key areas the FCA assesses, from governance and ownership through to systems, controls, and consumer protection. Designed to help applicants avoid common pitfalls and reduce time to authorisation.
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See how Nasara Connect can help you implement these practices with structured workflows and evidence capture.
Identify the regulated activities and permissions you need based on your business model.
Before any substantive work begins on an authorisation application, firms must carefully scope the permissions they need. This involves mapping your proposed business activities against the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO) to identify which regulated activities you'll be conducting.
The consequences of incorrectly scoping permissions can be severe. Apply for too few permissions and you risk conducting unauthorised business. Apply for too many and you'll face unnecessary capital requirements, reporting obligations, and regulatory scrutiny.
Consider not just your initial business model but your medium-term growth plans. Adding permissions later through a Variation of Permission (VoP) application takes time and creates regulatory overhead. However, don't apply for speculative permissions you may never use.
Related Nasara Connect Feature: This chapter aligns with our authorization pack module.