FCA Authorisation Guide Key Steps to Ensure Compliance (Part 1).pdf

This presentation covers the essential elements businesses must consider when applying for FCA authorisation. It highlights key areas including firm resources, disclosures, risk management, and business model alignment with regulatory expectations. The focus is on preparing senior management, addressing risks, and ensuring clear business planning, all while adhering to FCA standards of treating customers fairly. This guide provides a professional approach to the initial steps of the FCA authorisation process.

1. Introduction to FCA Authorisation (Part 1)
Overview of FCA authorisation process
Key considerations: office location, fees, resourcing
First focus areas: firm resources, disclosures, risk
management, business model

2. Firm Resources
Senior management based in the UK with focused
roles
Succession planning and avoiding key-man
dependency
Adequate office setup, IT systems, disaster recovery,
and compliance arrangements
Compliance assigned to senior management with
relevant qualifications

3. Disclosures
Assessing the fitness and propriety of senior
management
Disclosure of relevant experience and history (no CCJs,
debt issues)
Clear explanation of negative historical information or
enforcement actions
Importance of honesty, integrity, and reputation in
disclosures

4. Risk Management
Identification, management, and monitoring of
risks
Clear articulation of risks to consumers and
gap analysis
Regulatory business plan and relevant
policies to address risks
Ongoing risk assessment processes for FCA
application

5. Business Model
Clarity on how the firm generates revenue and risks
to consumers
10-12 page regulatory business plan for FCA
Key sections: governance, services, business risks,
and compliance controls
Alignment with FCA's "Treating Customers Fairly"
principle and 3-year growth plans

6. Let’s Connect
https://www.memaconsultants.com
[email protected]
03301330811

7. Thank
You