Top-up permission
Top-up permission

The following Financial Services guidance note provides comprehensive and up to date legal information covering:

  • Top-up permission
  • What is a top-up permission?
  • Variations and cancellations of 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 UCITS qualifiers can apply for Part IV permission where they need to top up their Sch 3, 4 or 5 authorisation because a segment of their business is not passportable but nonetheless constitutes a regulated activity business in the UK. This Practice Note explains the role of the so-called top-up permission in the FCA regime.

What is a top-up permission?

A top-up permission is a Part IV under the Financial Services and Markets Act 2000 (FSMA 2000). Permission is given to:

  1. an incoming European Economic Area (EEA) firm

  2. an incoming Treaty firm or