Obtaining authorisation and fees

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The Money Laundering Reporting Officer (MLRO)—duties

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The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to

What is electronic money?

BREXIT: UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further

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Public censure by the FCA

Disciplinary powers of the FCAThe disciplinary powers of the Financial Conduct Authority (FCA) are found in Part XIV of the Financial Services and...

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Non-UCITS retail schemes (NURS)

BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

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Financial Conduct Authority—Principles for Businesses (PRIN)

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Practice notes

Regulatory capital—purpose, quantity and quality

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Produced in partnership with Morrison & Foerster LLP 5th Oct

Practice notes

Authorised unit trust authorisation and winding-up

Authorisation of an authorised unit trust (AUT)What is an AUT?A unit trust is a type of collective investment scheme (CIS) in which the assets are...

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Practice notes

Consumer protection—FCA and other regulatory requirements

This Practice Note looks at key aspects of consumer protection within the UK financial services regulatory system. The UK’s regulatory structure,...

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Practice notes

Application of the FCA's COBS 4 rules

Chapter 4 of the Financial Conduct Authority's (FCA) Conduct of Business sourcebook (COBS 4) contains the conduct of business requirements for...

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Practice notes

European Venture Capital Funds (EuVECA) Regulation

BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

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Practice notes

Money Laundering Directive 4 (MLD4)—essentials

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Practice notes

Fair and Effective Markets Review (FEMR)—one minute guide

On 10 June 2015, the Fair and Effective Markets Review (FEMR) published its final report. Running to 106 pages, the report covers a wide range of...

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Practice notes

Entering into a consumer hire agreement as owner

BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. To ensure...

26th Sep

Practice notes

Recognised investment exchanges

Recognised investment exchangesA recognised investment exchange (RIE) is a UK recognised body under Part XVIII of the Financial Services and Markets...

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Practice notes

Basel Accord

The Basel Committee on Banking Supervision (BCBS), consisting of the central banks of governors of the so-called G10 countries (Belgium, Canada,...

26th Sep

Practice notes

Accepting deposits

This Practice Note looks at the regulated activity of accepting deposits (often referred to as deposit taking). Accepting deposits is a key hallmark...

25th Sep

Practice notes

UCITS VI

UCITS VIUCITS VI describes the European Commission's Consultation on Undertakings for Collective Investment in Transferable Securities issued 26th...

25th Sep

Practice notes

Financial Conduct Authority—objectives and principles

The role of the FCAThe Financial Conduct Authority (FCA) forms part of the regulatory structure for financial services firms. The FCA has a...

25th Sep

Most recent Obtaining authorisation and fees content

Practice notes

Implementation of the Acquisitions Directive

Background to the implementation of the Acquisitions DirectivePrior to the implementation of the Acquisitions Directive (Directive 2007/44/EC) in...

25th Sep

Practice notes

Financial Conduct Authority—varying permission

Authorised people can only carry out regulated activities in the UK in accordance with their permission. Where people intend to change how they carry...

25th Sep

Practice notes

Prudential Regulation Authority—imposition and variation of requirements

This Practice Note looks at the powers of the Prudential Regulation Authority (PRA) to impose and vary requirements. For guidance on the cancellation...

25th Sep

Practice notes

Top-up permission

The right to gain authorisation from the Financial Conduct Authority (FCA) in the UK is not limited to UK firms. Incoming EEA firms, Treaty firms and...

25th Sep

Practice notes

Exercising passport rights under MiFID and MiFID II

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

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Practice notes

Financial Conduct Authority—imposition and variation of requirements

This Practice Note looks at the powers of the Financial Conduct Authority (FCA) to impose and vary requirements. For guidance on the cancellation of...

25th Sep

Practice notes

Financial Conduct Authority—preparing for authorisation

How should a firm prepare for authorisation? This Practice Note highlights some of the issues firms need to think about and address while preparing to...

25th Sep

Practice notes

Threshold conditions—FCA authorised and regulated firms

All Financial Conduct Authority (FCA) authorised firms are required to maintain a set of minimum standards in order to become and remain authorised....

25th Sep

Practice notes

Threshold conditions—firms authorised by the PRA or dual regulated by the PRA and the FCA

All Prudential Regulation Authority (PRA) authorised firms are required to maintain a set of minimum standards in order to become and remain...

26th Sep

Practice notes

EEA passporting rights under the Mortgage Credit Directive

This Practice Note sets out the passporting rights and related notification requirements of credit intermediaries established in the European Economic...

26th Sep

Practice notes

Applying for passporting

What is passporting?UK authorised firms may be eligible to carry out permitted activities in another European Economic Area (EEA) state if they fulfil...

26th Sep

Practice notes

Exercise of passporting rights—insurance undertakings in the EEA

This Practice Note sets out the passporting rights and related notification requirements of insurance undertakings established in the European...

26th Sep

Practice notes

General passporting requirements under CRD IV

Single market passporting regime—CRD IVAmong the European Union’s (EU) core goals has been the development of the internal market, specifically to...

26th Sep

Practice notes

Requirements for the exercise of passporting and Treaty rights in the UK

This Practice Note focuses purely on procedural requirements for firms wishing to exercise passporting rights and Treaty rights in the UK. For further...

26th Sep

Practice notes

Preparing a regulatory business plan—guidelines

Introduction to the FCA authorisation processPreparing an application for Financial Conduct Authority (FCA) authorisation is a challenging task. Many...

26th Sep

Practice notes

Prudential Regulation Authority—preparing for authorisation

This Practice Note highlights some of the issues firms need to think about and address while preparing to apply for authorisation to carry on...

26th Sep

Practice notes

Prudential Regulation Authority—authorisation

Firms who wish to carry one or more PRA-regulated activities as set out in the Financial Services and Markets Act 2000 (Regulated Activities) Order...

26th Sep

Q&As

When and how should a UK firm apply for authorisation or a variation of permission under MiFID II?

This Q&A explains when and how a UK firm should apply for authorisation or a variation of permission (VoP) under the revised and recast Markets in...

28th Sep

Practice notes

Prudential Regulation Authority—risk assessment

The general objective of the Prudential Regulation Authority (PRA) is to promote the safety and soundness of the firms it regulates. Its objectives...

5th Oct

Practice notes

Prudential Regulation Authority—varying permission

Authorised people can only carry out regulated activities in the UK in accordance with their permission. Where people intend to change how they carry...

5th Oct