Notifications and applications

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

ESMA publishes report on 2023–2024 CSA examining sustainability risks and disclosures

The European Securities and Markets Authority (ESMA) has published its final report on the 2023–2024 Common Supervisory Action (CSA), conducted in cooperation with national competent authorities (NCAs), on the integration of sustainability risks and disclosures in the investment management sector. The CSA assessed compliance with the Sustainable Finance Disclosures Regulation (EU) 2019/2088 (EU SFDR), the Taxonomy Regulation (EU) 2020/852, the Alternative Investment Fund Managers Directive (Directive 2011/61/EU) (AIFMD), and the Undertakings for Collective Investment in Transferable Securities Directive (Directive 2009/65/EC) (UCITS). The report states that the overall level of compliance was satisfactory but identifies areas for improvement in the integration of sustainability risks and in entity- and product-level disclosures under the EU SFDR. The CSA also contributed to ESMA’s work on greenwashing. The report notes that NCAs took supervisory actions to address identified issues and will continue engaging with market participants and following up on vulnerabilities.

ESAs jointly consult on draft guidelines for ESG stress testing in banking and insurance

The three European Supervisory Authorities (the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority—ESAs) have published a joint consultation paper on 27 June 2025 containing draft guidelines for integrating environmental, social and governance (ESG) risks into supervisory stress tests for banks and insurers. Developed pursuant to Article 100(4) of the Capital Requirements Directive (Directive 2013/36/EU) and Article 304c(3) of the Solvency II Directive (Directive 2009/138/EC), the guidelines aim to ensure consistency, long-term considerations and common standards in ESG stress testing methodologies across the EU financial sector. They outline expectations for competent authorities regarding the design, governance and operational features of such stress tests, including the need for relevant expertise, access to high-quality ESG data and appropriate timelines for scenario analysis. Responses are sought by 19 September 2025, with a public hearing scheduled online for 26 August 2025.

PRA publishes policy statement PS10/25 confirming final fees and levies for 2025/26

The Prudential Regulation Authority (PRA) has published policy statement PS10/25, confirming its final policy on regulated fees and levies for the 2025/26 fee year, following consultation paper CP8/25. The policy sets out the fee rates required to meet the PRA’s Annual Funding Requirement (AFR) of £336.4m and Total Funding Requirement (TFR) of £350.2m for the period from 1 March 2025–28 February 2026. The AFR is £7.7m higher than proposed in the consultation due to increased allocations from the Bank of England’s central support and investment portfolio costs, partially offset by a reduction in pensions provision. The PRA received three responses to the consultation, which were generally supportive of the proposed changes. The implementation date for the PRA Rulebook: PRA Fees Amendment Instrument 2025 is 2 July 2025.

FCA flags poor risk management practices at payment firms

Law360, London: The Financial Conduct Authority (FCA) has revealed that payment services companies displayed inadequate risk management in every case it examined in a multi-company review.

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