FCA Authorisations and Variation of Permissions
FCA Authorisations & VoPs
Laven can assist your firm in becoming independently authorised by the FCA by assisting with the preparation and submission of the application. If your firm is already authorised and wants to change or add to its regulated activities, we can assist you with filing for a Variation of Permission (VoP).
Our services
We adopt a pragmatic, methodical and efficient approach to the FCA Authorisation process by investing time in getting to know the client and fully understanding their business, which enables the application process to be progressed quickly and efficiently.
Laven’s in-depth understanding of the UK regulatory requirements, including expertise in both MiFID and AIFMD, enables the team to tailor each application to the client’s specific circumstance.
Laven can also assist firms who are already regulated by the FCA and are looking to adjust their regulatory permissions to align with new or changing business activities. For example, a firm that qualifies as a sub-threshold AIFM will need to file a Variation of Permission (VoP) form with the regulator in order to become an authorised full-scope. As part of the application process, Laven will assist clients with the preparation and implementation of AIFMD-compliant policies for the following functions:
- Valuation
- Liquidity management
- Risk management
- Remuneration
Application timeframe for FCA Authorisations
The preparation of the application can take a few weeks depending on how promptly we receive the necessary information from you. Please note that an FCA license is typically granted within 6-9 months from the date that the application is submitted. If you are looking to get to market quicker than the 6-9 month time frame, Laven can assist with hosting you under our regulatory umbrella in the interim.
Ongoing compliance assistance
Following a firm’s successful FCA authorisation, Laven can assist clients with ongoing FCA compliance support to ensure UK regulatory compliance as an independent firm. We look to offer a bespoke compliance service that is tailored to your ongoing requirements, which can include the following:
- Regulatory reporting
- Compliance infrastructure
- A compliance manual
- Compliance monitoring programmes
- Anti-money laundering procedures