UK Consumer Investment Firms' FCA Authorisation Solutions | Pre-licensing Support | FCA Authorisation Application Management | Post-licensing Risk and Compliance Solutions

We offer a comprehensive set of solutions to help you obtain and maintain a Consumer Investment Firm FCA Authorisation (issued by the UK Financial Conduct Authority (FCA), tailored to:

• Your business goals and objectives
• Your client demographics
• Your countries of operation
• The size of your business
• The available human and technology resources
• Your risk appetite
• Your governance structure
• The products that you offer
• FCA Regulated Investment Firms' Obligations: covering risk and compliance management under financial laws and regulations, the applicable financial licensing requirements, AML/CFT laws, privacy laws, consumer protection laws, and more

We have designed our financial licensing solutions to help you navigate the complexities of the UK consumer investment regulatory regime in a commercially oriented and goal-focused manner, providing effective support for all stages of the consumer investment FCA firm authorisation process, including but not limited to the following aspects:

• FCA Consumer Investment Firms' Authorisation Guidance: Advising on a wide range of aspects associated with an consumer investment FCA firm authorisation as it relates to your specific situation
• Pre-licensing assessment: Covering compliance gap analysis as well as risk and compliance assessment
• Pre-licensing support:
• Drafting the necessary policies and procedures to help you comply with the consumer investment FCA firm authorisation conditions and financial markets' regulations
• Developing internal controls to help you meet your obligations under the UK consumer investment regulatory regime
• Consumer Investment Firm FCA Authorisation Application Support: Covering the entire licensing process
• Post-licensing Support: Covering
• Ongoing compliance advice
• Comprehensive second-line risk and compliance support, including leading the implementation of your risk management framework (RMF), compliance management framework (CMF), compliance monitoring program (CMP), compliance calendar and checklist, ongoing risk assessments, internal and external reporting, outsourced providers' management, and more
• AML/CFT advice
• AML/CFT compliance management
• Compliance assurance solutions, including compliance assurance program (CAP) development, implementation, and internal control testing

 

Service Coverage

This page is about the UK Retail Consumer Investment Firm FCA Authorisation. In the UK, entities providing investment services to retail clients must obtain FCA Authorisation under the Financial Services and Markets Act 2000. Depending on the business model, this may require FCA permissions for portfolio management, investment advice, dealing in investments as agent or principal, arranging deals in investments, operating a retail investment fund, or a combination of these permissions.

We offer comprehensive support for a wide range of retail consumer investment firm FCA applications tailored to meet the specific needs of the following businesses:

• Retail Consumer Investment Firms providing advice and investment services to the general public
• Discretionary Portfolio Management Firms serving retail clients
• Retail Fund Operators and Distributors
• Financial Advisory Firms focused on retail investors
• Multi-Channel Investment Platforms (online and in-person)
• ESG-Focused Retail Investment Firms
• Robo-Advisors serving retail markets
• Cross-Border Investment Advisory Firms with a retail client base
• Investment Firms offering packaged retail investment products (PRIIPs)

You can find more information about our retail consumer investment firm FCA authorisation solutions below:

Consumer Investment FCA Firm Authorisation Preparation

Pre-licensing Compliance Assurance

Our consumer investment FCA firm authorisation solutions cover the following focus areas:

• Compliance Goals Analysis: We review your business-specific goals and resources against the suitability criteria for the UK consumer investment regulatory regime
• Initial Consultation: We provide guidance on potential risk and compliance issues that may arise during the consumer investment FCA firm authorisation process
• Choosing the Right Jurisdiction: We assist in evaluating regulatory, risk, and compliance environments to determine the most suitable jurisdictions for your consumer investment FCA firm authorisation, tailored to suit your:

• business objectives,
• operational capacity,
• client base,
• markets of operations,
• and other relevant factors

• Gap Analysis: We identify gaps between your existing operations and regulatory requirements and help you align them in a commercially oriented manner
• Consumer Investment Firm FCA Authorisation Application Plan: We help you establish a roadmap to effectively meet the consumer investment FCA firm authorisation requirements

 

 

Consumer Investment Firm FCA Authorisation Guidance

Selecting the right compliance model is crucial not only for navigating the licensing process but also for maintaining ongoing compliance and avoiding potential breaches. Our consumer investment FCA firm authorisation solution covers:

• Compliance Model Selection: To help you best comply with the UK consumer investment regulatory regime and related risk and compliance obligations.
• Corporate Governance Model Selection: We offer practical guidance on establishing effective corporate governance practices that support your risk and compliance oversight.
• Operations Model Advisory: We advise you on optimising your operational and governance models to help you efficiently comply with the UK consumer investment regulatory regime, keeping in mind your specific circumstances, available resources and business goals.

 

Entering the FCA Regulated Environment

We help businesses transition from an unregulated environment to operating under the UK consumer investment regulatory regime, helping them meet their obligations as consumer investment FCA firm authorisation holders.

We also assist already regulated businesses in aligning their existing risk and compliance management structures with the requirements of the UK consumer investment regulatory regime.

Our focus areas for this service include:

• New businesses
• Existing MIS managers operating in unregulated markets
• Regulated MIS managers expanding into foreign jurisdictions
• Financial institutions and/or service providers with established risk and compliance frameworks seeking to introduce regulated custody services trading as a new product.

 

Multi-Jurisdictional Compliance

With years of experience managing risk and compliance obligations for businesses operating under multiple financial licences across various jurisdictions, we help businesses remain compliant with the fund managers’ obligations globally.

 

Non-Retail Consumer Investment Firms’ FCA Authorisation

Securing a retail-facing FCA authorisation may not align with your business objectives. If your strategy is focused on engaging professional or wholesale investors rather than the broader retail market, pursuing retail product or fund authorisation might not be the best fit.

Our solutions support consumer investment firms that provide services to non-retail clients, including professional investors, institutional clients, eligible counterparties, and high-net-worth individuals. This covers businesses that:

• Focus exclusively on wholesale markets by targeting sophisticated, eligible, and professional investors.
• Operate under FCA Part 4A permissions for regulated activities without seeking authorisation to deal with retail clients or offer retail products.
• Structure their activities around wholesale-only fund management, such as Alternative Investment Funds (AIFs) for professional investors, rather than UCITS or other retail fund regimes.
• Align their operations with the requirements set for non-retail services while still meeting the complete set of regulated activity obligations for their business model.

Our services help these firms comply with regulatory requirements that extend beyond product or fund authorisation itself, including:

• Complying with FCA financial promotions and marketing rules for non-retail clients.
• Adhering to fair dealing and client communication standards for professional investors and eligible counterparties.
• Implementing robust risk management frameworks.
• Overseeing outsourced service providers effectively.
• Ensuring the firm does not inadvertently offer regulated services to retail investors without the appropriate permissions.
• Meeting obligations under Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) laws.
• Complying with data management and other relevant legislative requirements.

Consumer Investment Firm FCA Authorisation Application

We assist with your FCA authorisation application through ongoing engagement in the consumer investment FCA firm authorisation process:

• Document Compilation and Review: We compile and review all required supporting documents to support your consumer investment firm's FCA authorisation application.
• Application Form Completion: We help you complete the forms so that all material information is accurate and complete.
• Pre-Submission Review: We can arrange a pre-submission review session with key stakeholders to ensure all parts of your application are understood and agreed upon. This session aligns application details with the actual situation, removing ambiguity.
• Regulatory Liaison: We manage the end-to-end submission process, maintaining clear and effective communication channels throughout the ASIC licensing process.
• Timeline Management: We closely monitor and adhere to all necessary deadlines, providing timely updates and adjustments to keep the application process on track.

 

Resolving MIS Manager’s FCA Authorisation Issues

Having competent compliance advisors is crucial when licensing issues arise. Therefore, our consumer investment FCA firm authorisation solutions include a range of services to address and resolve these issues effectively:

• Remediation Solutions for Consumer Investment Firm FCA Authorisation Applicants: We address and remediate risk and compliance issues identified by regulators, helping your operations align with the requirements of the UK consumer investment regulatory regime.
• Specific Licence Conditions Compliance: We can help you manage additional conditions imposed on your FCA consumer investment firm's authorisation developing a tailored action plan to maintain compliance and facilitate the eventual removal of these conditions with minimal disruption to your business operations.
• Licensing Issues Handling: We address common licensing issues encountered during the consumer investment FCA firm authorisation process, providing you with solutions to navigate and resolve these challenges efficiently.
• Further Information: You can visit our Compliance Remediation Solutions page for more information.

 

Post-Licensing Support

We offer a full range of ongoing risk and compliance solutions for ASIC-licensed MIS managers. Our services include, but are not limited to:

Ongoing Risk and Regulatory Compliance

• FCA Regulated Investment Firms' Obligations Guidance: We can advise your risk, compliance, management and other teams on meeting the requirements of the UK consumer investment regulatory regime and other regulatory compliance obligations. You can visit our Compliance Consultancy Service page for more information.
• Regulatory Risk and Compliance Management: We provide dedicated compliance managers to manage your overall compliance. For more information, visit our Specialised Compliance Management Solutions page for Fund Managers.
• Compliance Assurance Solutions: As part of our compliance assurance solutions, we offer:

• Compliance Assurance Program (CAP) development and testing options
• Internal Controls Design option
• Internal Controls Testing option
• Internal AML/CFT Review option
• Statutory AML/CFT Audit option

• Compliance Training Solutions: We offer training programs to different teams on complying with:

• FCA Regulated Investment Firms' Obligations for risk and regulatory compliance management. You can visit our Compliance Training page for more information.
• FCA Authorised Consumer Investment Firms’ AML/CFT obligations and operational best practices for fraud prevention. You can visit our AML/CFT Training page for more information.
• Crisis Management Planning: We can develop proactive strategies to manage potential compliance crises effectively.
• Anti-Money Laundering (AML) and Counter Terrorist Financing Solutions: We provide a full range of AML/CFT solutions for MIS providers. For more information, visit our Specialised AML/CFT Solutions page for Fund Managers.
• Advanced Compliance Technologies: We can assist you with selecting and integrating advanced technology solutions, such as compliance automation tools and regulatory technology (RegTech), to streamline compliance processes without disrupting operations.

• Risk and Compliance Framework Adjustments: Including adjustments to risk management frameworks (RMFs), compliance monitoring programs (CMPs), compliance management frameworks (CMFs), and other core procedures and policies to align them with:
• new business goals
• regulatory changes
• changes in your operations
• evolving market conditions
• changes in stakeholders’ risk appetites (your banking partners, insurance companies, liquidity providers, etc.).

 

 

Risk and Compliance Obligations for FCA Authorised Consumer Investment Firms

We can help you address these obligations and expectations through comprehensive support in different areas. The list below is not exhaustive:

Consumer Investment Firm FCA Authorisation and Regulatory Compliance Obligations

• Compliance Management Systems: We can help you establish effective compliance programs, compliance monitoring plans, controls testing methodologies, compliance calendars and more (covered under SYSC 6.1).
• Risk Management Frameworks: We can help you develop comprehensive risk management frameworks to fulfil FCA regulated investment firms' obligations for identifying, assessing, and mitigating operational, regulatory, strategic, financial and other types of risks (covered under SYSC 7.1).
• Policy and Procedure Development: We can help you draft and implement policies and procedures aligned with the consumer investment FCA firm authorisation requirements.
• Compliance Monitoring Plans: We can oversee the execution of your CMPs, covering ongoing monitoring of your compliance obligations under the UK consumer investment regulatory regime.
• Internal Control Testing and Compliance Assurance: We can conduct internal reviews and audits of your controls to test their effectiveness and compliance with the applicable regulatory standards.
• Capital Adequacy Requirements: We can help you implement controls to comply with capital adequacy requirements, helping your businesses meet FCA regulated investment firms' obligations for maintaining required financial resources (covered under IFPR).
• Liquidity Management Requirements: We can assist you in developing controls to comply with liquidity management requirements (covered under FUND 3.6.2R for AIFMs and COLL 6.6.3R for UCITS schemes).
• Financial Auditing Standards: We can assist in establishing procedures to help you comply with the audit and assurance requirements under the UK consumer investment regulatory regime.
• Records Management and Accessibility: We can help you with your record-keeping requirements for management and retention of relevant records (covered under SYSC 9).
• Governance Notification Obligations: We can help you develop controls to maintain governance and compliance arrangements at or above the standards advised during licensing (covered under SUP 15).
• Consumer Duty Compliance: We can help you implement frameworks, controls, and monitoring mechanisms to meet FCA Consumer Duty obligations, ensuring your products, services, pricing, client communications, and support processes deliver good outcomes for retail customers.
• Vulnerable Customer Protections: We can help you integrate FCA guidance on identifying and supporting vulnerable customers (FG21/1) into your policies, procedures, and staff training, ensuring consistent handling across all client interactions.

 

Consumer Investment Firm FCA Authorisation and Operational Oversight Obligations

• Oversight of Outsourcing: We can establish a set of effective controls to comply with consumer investment FCA firm authorisation requirements for overseeing outsourced services, also covering related obligations under AML/CFT compliance, ISO requirements, and more.
• Structures for Governance: We can help you establish effective governance structures to comply with FCA regulated investment firms' obligations and develop an effective approach to overseeing your risk exposure and compliance status across different functions of your business.
• Senior Management Accountability: We can help you comply with FCA regulated investment firms' obligations for senior management and key staff conduct and competence (covered under Senior Managers and Certification Regime).
• Maintaining Operational Resilience: We assist in developing continuity plans to meet FCA regulated investment firms' obligations for operational resilience, helping critical business services withstand disruptions.
• Operational Risk Scenario Testing: We can help you design and execute operational risk stress tests to meet FCA expectations under the ICARA process, covering operational resilience events, liquidity pressures, and market disruptions.
• Managing Technology Risks: We provide guidance on technology risk management obligations under the UK consumer investment regulatory regime.

 

FCA Consumer Investment Regulation and Market Integrity/Transparency Requirements

• Standards for Market Conduct: We can help you implement controls for FCA regulated investment firms' obligations to maintain fair and transparent market conduct, including preventing manipulation and insider trading.
• Principles for Fair Treatment: We can help you implement controls to comply with expectations that cover adherence to principles of fair treatment and transparent communications with clients (covered under FCA's fair treatment of customers).
• Standards for Conduct and Disclosure: We can help you comply with consumer investment FCA firm authorisation standards for conduct and disclosure.
• Product Suitability and Governance: We can establish tailored controls to help FCA regulated investment firms' obligations comply with product suitability and governance obligations, including risk management and governance arrangements across the product life cycle.
• Sustainability Disclosures and ESG Compliance: Where applicable, we can help you meet FCA sustainability disclosure requirements and anti-greenwashing rules, including governance, record-keeping, and product documentation controls for ESG and sustainable investment offerings.
• Protection of Client Assets: We can help you comply with consumer investment FCA firm authorisation obligations to protect and segregate client assets.
• Resolution of Disputes: We can help you establish effective mechanisms for dispute resolution and complaints management, particularly for retail clients.

 

Consumer Investment Firm FCA Authorisation and Resource Management Obligations

We can help you comply with the following requirements of the UK consumer investment regulatory regime:

• Adequacy of Resources: Covering financial, technological, human and other resources.
• Competence of Professionals: Covering key personnel, their necessary skills, knowledge, and professional competence.
• Our focus areas include:

• Assessment and Gap Analysis: We can help you evaluate the adequacy of your financial, technological, and human resources against the requirements of the FCA authorisation regime.
• Resource Allocation Plans: We can help you develop strategies to optimise resource allocation, covering sufficient capacity for compliance, trading, operations, banking, customer support and other functions and departments.
• Technological Solutions: We can recommend and implement RegTech tools to streamline compliance processes, such as transaction monitoring, reporting, and audit trails.
• Key Personnel Assessment: We can help you assess the skills, qualifications, and experience of key personnel to identify areas for improvement.
• Training and Development Programs: We can design and deliver targeted compliance training programs to upskill personnel in compliance, risk management, and compliance regulations.
• Competence and Accreditations of Advisors and Representatives: We can advise you on certifications and continuing professional development (CPD) requirements for compliance professionals and senior management.
• Representative Vetting: We can help establish a framework for assessing the competence and suitability of advisors and representatives before appointment.

• Compliance Monitoring: We can help develop controls to monitor representatives' adherence to conduct and disclosure obligations.
• Ongoing Training: We can help you create a framework to support continuous education for advisors and representatives on licensing obligations, market integrity, and client interaction standards.
• Regulator Liaison: We can act as an intermediary with regulators to address queries and help you demonstrate compliance with resourcing obligations.

 

FCA Consumer Investment Regulation and Reporting

• Regulatory Reporting: We can help you prepare and submit periodic and ad-hoc reports covering:
  • UK Consumer Investment Regulatory Regime
  • UK Consumer Investment Firms’ AML/CFT Obligations (SARs, cross-border transaction reports, cash transaction reports, and other reporting obligations)
  • FCA regulated investment firms' obligations under the financial markets' conduct-related regulations 
• Compliance Documentation: We can help you develop and maintain the necessary documentation to meet record-keeping obligations under various laws and regulations.
• Audit Readiness: We can prepare you for audits and reviews to demonstrate compliance with regulatory requirements, provisions of the UK consumer investment regulatory regime, applicable operational standards, and more.

 

Related Services

We assist in obtaining consumer investment firm FCA authorisation equivalents in the following jurisdictions:

• Australia: For more information on the Australian equivalent of a consumer investment firm FCA authorisation, the Australian Financial Services Licence (AFSL), you can visit our AFSL Licence page for MIS Managers.
• Singapore: For more information on the Singapore equivalent of a consumer investment firm FCA authorisation, the registered fund management company (RFMC) registration, you can visit our RFMC Registration page. For other options, you can visit our Singaporean Investment Firm Licence Solutions page or our Singaporean LFMC Licence page.
• New Zealand: For more information on the New Zealand equivalent of a consumer investment firm FCA authorisation, you can visit our New Zealand Investment Firm Licence page.
• Prominent Financial Centres and Offshore Tax Havens: We also offer licensing and registration solutions for investment firms in prominent financial centres and offshore tax havens, including:

• Cayman Islands
• British Virgin Islands
• Seychelles
• Island of Man
• Bermuda