Notifications and applications

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This Overview is a guide to the Financial Services content within the Notifications and applications subtopic, with links to the appropriate materials.

This Overview provides a summary of the requirements for firms to notify the regulator in relation to key information changes and lists all the relevant Practice Notes that readers can access for obtaining detailed information.

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) are the UK's regulators for investments, banking, insurance, listing and other financial services matters. The FCA and the PRA authorise and regulate different financial services businesses in the UK including banks, insurance companies and fund managers.

The regulators hold certain information about the firms that they regulate. If there are any changes in the information of these firms, such as a change of control or a change to its close links, the regulators must be notified. The Financial Services Register provides details of the firms, individuals and other bodies that are, or have been, regulated by the PRA and/or the FCA.

Firms can also make applications to the regulators, for example if they want to apply for a Part 4A permission

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Latest Financial Services News

Retail insurance market: FCA publishes package of reports on cost pressures, claims handling failings and pricing reform impacts

The Financial Conduct Authority (FCA) has published a package of reports assessing the state of the UK retail insurance market and outlining actions for firms, government and regulators to address identified shortcomings. The FCA examined the causes of rising motor insurance premiums, reviewed claims handling in home and travel insurance, evaluated the fairness of premium finance and assessed the impact of its pricing reforms. The FCA noted that external cost pressures, rather than increased firm profits, were the primary driver of motor premium hikes. It also raised concerns about poor claims handling and the value offered by some premium finance arrangements. The reforms, it said, have improved fairness for loyal customers without causing unjustified price increases.

CRR: Commission launches consultation on prudential treatment of equity exposures

The European Commission has launched a targeted consultation on draft guidance concerning the prudential treatment of equity exposures incurred by banks under legislative programmes in the Capital Requirements Regulation (Regulation (EU) 575/2013) (CRR). The draft Communication sets out how banks may apply more favourable capital treatment to equity investments made under qualifying public programmes and clarifies the conditions under which such exposures would be eligible, including the presence of significant public subsidies or guarantees, and oversight by public authorities. The consultation forms part of the EU’s broader strategy to mobilise private funding for strategic sectors and ensure consistent application of CRR rules across the single market. Responses are sought by 8 September 2025.

FCA publishes full-page update to reflect current work on climate change and sustainable finance

The Financial Conduct Authority (FCA) has published a full-page update of its ‘Climate change and sustainable finance’ webpage, outlining its current work in this area. The update brings together recent developments in the FCA’s regulatory approach, which is intended to support the management of risks associated with both the transition to a more sustainable economy and the impacts of climate change. It also describes the FCA’s work to improve the availability and reliability of sustainability-related information, promote fair competition, and contribute to the development of internationally aligned standards. The update is part of broader efforts to support the UK Government’s objective of establishing the UK as a global centre for sustainable finance.

Wolfsberg Group publishes statement on key elements of risk-based approach to financial crime compliance

The Wolfsberg Group has published a statement on the application of a risk-based approach (RBA) to financial crime risk management (FCRM). The statement builds on the Group’s 2006 guidance and 2015 FAQs, and further defines the core elements of an RBA: proportionality, prioritisation and effectiveness. It aligns with the Financial Action Task Force’s (FATF) Recommendation 1 reforms and guidance on financial inclusion and notes that a supervisory regime which supports financial institutions in the application of an RBA is a key enabler of success. The Wolfsberg Group highlights recent engagement with member financial institutions, regulators, law enforcement, international organisations and civil society to embed the RBA through practical activities and confirms plans to update its existing resources to support implementation focused on effective outcomes.

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