Navigating FCA Authorisation Key Steps and Best Practices (Part 3).pdf

This presentation continues the exploration of the FCA authorisation process, focusing on critical areas such as complaints handling, financial requirements, and the final application steps. It emphasizes the importance of having a clear complaints policy, sufficient capital resources, and a well-prepared, tailored application to ensure compliance with regulatory expectations. Additionally, practical steps and documentation requirements are outlined to guide firms in successfully completing the FCA authorisation process.

1. Introduction
Overview of FCA Authorisation (Part 3)
Introduction to the FCA authorisation process.
Continuation from the previous session covering systems, controls,
and financial promotions.
Focus on complaints handling, financials, and the final application
process.

2. Complaints Handling
Firms must have a clear complaints policy that
ensures:
Accessibility and ease for customers to
complain.
Prompt and respectful responses to
complaints.
Root cause analysis and policy review to
improve service.
Firms must monitor and report complaint metrics
to senior management.

3. Financial Requirements
Firms need to demonstrate sufficient capital and liquidity to meet
liabilities.
Documentation required includes:
Annual accounts.
3-5 year cash flow projections.
Capital resources calculation.
Capital and liquid resources must cover potential harm and ensure
business sustainability.

4. Final Application Steps
Ensure your application is clear, concise, and tailored to
your business activities.
Verify that selected permissions align with actual
business operations.
Avoid boilerplate answers—provide specific, relevant
details.
Review and check all information before submission to
avoid regulator concerns.

5. Next Steps & Resources
Review the FCA authorisation
requirements and ensure all procedures
are in place.
MEMA offers an ebook guide on the FCA
authorisation process for further
reference.
Contact the team for any additional
support or clarifications.

6. CONTACT US
[email protected]
03301330811

Suite 1810, Unit 3a,34-35 Hatton Gardens, Holborn, EC1N 8DX
https://www.memaconsultants.com

7. THANK YOU
verymuch