How we process approved person applications

After submitting your application

When you submit your application on Connect, you'll get an automated email to confirm that we've received it. If you want to follow up with us about your application, please reply to this email rather than writing a new one – this will help us link it with your case and avoid delays.

If you send a paper application, we'll send an acknowledgement letter within 48 hours.

As part of our assessment, we may:

• ask for more information about your firm, the candidate or their former employer(s)
• interview the candidate
• liaise with other regulatory bodies or organisations
• obtain information from third parties

If we ask for more information and you don't respond within 4 weeks, we'll consider you a ‘non-responder’ and may reject your application.

Effective dates on forms A and E

If you include an effective date on these forms, we will try to meet the timeline. But remember that individuals must not perform a controlled function until approval is given.

How long it takes

We must decide on an application within 90 days of receiving it, unless we ask for more information. If we do, we'll stop the 'statutory clock’ until we receive it – this means your application could take longer.

We aim to decide on 85% of applications within:

• 2 days for Form C and Form D notifications
• 5 days for Appointed Representative customer functions (CF30) and significant influence functions

See SUP 10A in our Handbook for the rules on this process.

Checking progress

You can check the progress of your application on:

• Connect, or
• the Financial Services Register

If we haven't approved your application within our statutory timeframe you can email us at [email protected] for an update.

We only provide progress reports to your firm, not to candidates.

Possible outcomes

If we're satisfied with the candidate’s fitness and propriety, and your firm’s systems and controls, we will approve the application. If not, we'll refuse the application.

You can withdraw an application at any stage during the process.

If we refuse your application

We will issue decision notices to your firm and the candidate.

If we think that the candidate is not fit and proper, we'll also issue warning notices to them and your firm.

Your firm and/or the candidate can then make written representations to us, and can refer the refusal to the Upper Tribunal (Tax and Chancery Chamber).

If you want to withdraw your application

Follow our guidance to send us Form B.

Dual regulated firms

If you're applying for approval for Prudential Regulation Authority (PRA)-designated controlled functions, the PRA will lead the assessment of your application but it needs our consent first. Without this, the PRA cannot approve the application.

For more information about this process, refer to the PRA website.