Licensing and other Regulatory Applications
Organisations applying for authorisation for the first time or altering their current regulatory environment through a Variation of Permission (VOP) or Change in Control (CiC), often need help to navigate the regulatory process.
Effective communication with regulators is critical to successful applications. We work with UK and internationally based organisations to support their licencing processes, from full authorisation applications, to the creation of UK branches by international Firms.
Our team knows it can be daunting completing an authorisation: to clearly present the purpose of the request; explain the strategy that sits behind it; and provide the large volume of information required.
We help our clients with all the key elements of the application including:
Business plan development / enhancement
Ensuring their business plan is complete, has full coverage and is presented in a manner that reflects the complete operations, systems and controls of the firm
Permissions being requested
Helping analyse their business model to determine the scope of permissions required for their application
Developing/analysing financial projections in line with their business plan, strategic ambitions and the basis for the authorisation
Getting the correct resources in place (skillsets and numbers) and making sure their resource plan meets the Senior Manager and Certification requirement
Systems and controls
Helping develop/evaluate their systems and controls to determine whether the control environment is consistent with their business model, sufficiently robust to demonstrate the delivery of good outcomes for customers/effective conduct in markets and a sustainable, compliant commercial proposition.
We can provide tailored advice on specific elements of your application, or more ‘hands-on’ support in drafting the application and compiling the supporting information.
Variation of Permission
We provide analysis and/or support the application process when clients want to vary their permissions (extending or reducing). It’s important to be able to demonstrate the purpose of the change, the impact on the business and customer proposition, and how the organisation’s control environment and resources may need to change. We often find organisations are not sufficiently detailed in their articulation of purpose and consequence, this can delay the application process and impact the commercial value of the request.
Change in Control
We help clients with changes of control as part of an acquisition or divestment or an internal reorganisation. These require scrutiny and early engagement with the regulator is critical. If the change involves other regulated firms multiple supervision teams may also need to consider the proposals. As with permission variations or authorisations, we can help you navigate through the regulator engagement process and streamline your application.