How to register with the FCA

Registering with the FCA means applying for authorisation to carry on the regulated activities your business performs. You choose the permissions that match those activities, submit a regulatory business plan, financial forecasts and policies through the FCA’s Connect system, and satisfy the FCA - usually including an interview with your senior leaders - before it adds your firm to the Register.

What is the FCA Register?

The Financial Services Register (opens register.fca.org.uk in a new tab) is the official record of firms and individuals authorised or registered to carry on regulated financial services activities in the UK. Being on it demonstrates to customers, lenders and partners that your firm is authorised to do what it says it does.

Who needs to register with the FCA?

You will need authorisation if your business carries on activities including:

• consumer credit - car finance, loans, credit broking
• investment advice or management
• payment services
• insurance distribution
• e-money issuance
• mortgage advice and broking
• claims management, unless you are a regulated solicitor firm
• pensions

Whether a particular activity is regulated is not always obvious, and the answer turns on detail. The FCA’s Perimeter Guidance Manual (PERG) (opens handbook.fca.org.uk in a new tab) sets out where the regulatory boundary falls. If you are unsure, establish this before you apply - applying for the wrong permissions is one of the most expensive mistakes available at this stage.

The application, step by step

Choose the right permissions

Picking the wrong permissions is a leading cause of delay and rejection. The FCA will not correct your choice for you as the application progresses. Be clear on which regulated activities you carry on and which permissions those require.

Gather your information

You will need a regulatory business plan, financial forecasts, your policies, and details of the individuals who will run the firm. These documents must be consistent with each other and be a true reflection of what the business will actually do.

Submit your application

Applications are made through Connect, the FCA’s online system. Forms must be completed accurately with the supporting policies attached. The FCA is explicit that this is not an iterative process - an incomplete application is not a starting point for a conversation.

Respond to FCA queries

The FCA will come back with questions. Anticipate them: identify the risks a reader might perceive in your business model and make sure the business plan already addresses them.

Prepare for interview

The FCA will arrange a video meeting with senior leaders, usually individually, to establish that they are prepared and knowledgeable enough to run a regulated firm. Train and test that knowledge in advance rather than on the day.

Stay compliant after approval

Authorisation is the start of the obligation, not the end of it. The business plan you submitted sets out what your firm said it would do - the ongoing requirement is to deliver it, report on it, and keep the permissions current.

How long the process takes

The FCA has a statutory maximum of six months to determine a complete application, and twelve months where the application is incomplete, under section 55V of FSMA 2000 (opens legislation.gov.uk in a new tab). Preparation before submission adds to that. Our guide on how long FCA authorisation takes sets out the timeline in more detail.