Pre-application support service (PASS)

How we can support your firm

Find out how PASS can support your firm in preparing an application to the FCA and if you have questions before submitting your application.

Pre-application meetings

You can request a pre-application meeting with us if you're considering applying for registration or authorisation to do business in the UK as a consumer investments[3], cryptoasset[4], insurance intermediary[5], payments[6], or wholesale[7] firm.

We welcome requests from both UK and overseas firms.

Pre-application meetings are available to:

• Firms that are considering applying for new firm authorisation or registration.
• Firms that are already authorised or registered and that are considering applying to expand their business model into new areas.
• Firms interested in applying for the new targeted support[8] permission, or to become PISCES[9] platforms for trading private company shares.
• Authorised firms planning to apply for a waiver or modification of one of our Handbook rules.
• People and companies planning to submit a change in control notification before acquiring a UK-regulated firm. 

Pre-application meetings are free of charge and give the opportunity to discuss your plans or ask any questions before submitting an application or notification.

If your request is accepted, you will meet with one of our case officers who will outline our expectations and signpost you to useful information. Where possible, we will try to have the same case officer assess your application if you do apply.

You can register for a pre-application meeting via Connect[10]. You’ll be asked to provide information on your proposed application and any specific questions you wish to discuss at the meeting. This allows us to identify key areas of focus and signpost you to relevant information.

FCA speakers and industry events

Along with prospective applicants, we also engage with advisers, trade bodies or business associations that work with firms in the financial services industry. We're available to speak about the authorisation journey, or about applying for waivers or a change in control, at industry events, roundtables and conferences.

Ways to contact us:

• email [email protected] with the subject line 'Authorisation Outreach Event' or ‘FCA speaker’ with your event details or to request a speaker
• submit a speaker request form[11]

If you're applying for a waiver

You can request a pre-application meeting with us if you are considering applying for a waiver or modification of our Handbook rules in the following circumstances:

Client Assets Sourcebook (CASS)

You are considering an application to waive or modify a rule set out in the Client Assets Sourcebook (CASS)[12].

Unpublished waivers or modification

You are considering an application to waive or modify a rule that we have not previously published. See a list of published waivers and modifications[13].

If you're applying for a change in control

If your transaction involves a change in control, PASS can help you navigate complexity and reduce risk.

Early engagement is recommended in the following scenarios:

• Transformative changes in control (for example, significant changes to business strategy, rapid growth, governance restructuring or major capital/liquidity changes).
• Complex group structures where ownership may affect supervision.
• Cross-border transactions, especially those linked to deals in other jurisdictions.
• Substantial debt financing, including loan agreements and repayment plans, that affects financial soundness.
• Private equity or hedge fund ownership (more than 20%), where we may request a track record of previous acquisitions, investment policy and decision-making framework; and/or anti-money laundering (AML) procedures.
• Sovereign wealth fund ownership (more than 20%) (for example, investment policy and decision-makers and any government influence on operations).
• Linked FCA or Prudential Regulation Authority (PRA) waivers where post-acquisition changes could impact existing permissions.
• High-risk or newer regimes, for example cryptoasset firms.

Find out more on our change in control page[14] and in FG24/5 (PDF)[15].

Applying for authorisation or registration

Find out more about how to become authorised or registered to do business in the UK financial markets.

Further support with your application

• See how to apply for authorisation or registration[41] explaining the processes involved and our expectations of applicants.
• See our approach to international firms[42] which will be relevant to overseas firms preparing to apply for authorisation in the UK.
• FCA Innovation Hub[43] offers innovative firms a range of market-facing tools and initiatives, including the Regulatory Sandbox, Innovation Pathways and Digital Sandbox services.