On 12 October 2023, the UK Financial Conduct Authority published a blog setting out the improvements it is making to the application process (including the publication of new forms).
The FCA says:
– it’s “making improvements to the process to make it quicker and easier for firms and people to apply for authorisation“;
– it’s making changes so it can “collect higher quality data and applications, while responding quickly to protect consumers from emerging harms“;
– the changes will mean that “duplicative requests for information are being removed and some of the data we already hold will be prepopulated to save time and effort“.
The first form the FCA is looking to update is Form A (which is one of the longest and most-used forms).