Information for newly FCA authorised firms

Sep 29th '22

As a newly authorised Financial Conduct Authority (FCA) firm, we know there’s a lot of information to take in.


To get you started, this page lists important things to know for all firms, followed by sector-specific information.


All authorised firms need to meet regulatory obligations when providing regulated financial services and products, including reporting to the regulator regularly and having controls in place to prevent financial harm.


  • Information for all firms


Systems you will use:


  • Connect

Connect is the online system that you must use to submit applications and notifications to the FCA.


  • RegData

RegData is the platform you’ll use to submit regulatory data. Use these RegData resources to learn about each aspect of the RegData system via user guides and explainer videos.


  • Online invoicing

You’ll need to register with the FCA online invoicing portal to pay your fees, see your invoices, register new users and more.


  • Getting started


  • Tasks for authorised firms

Firms section on the FCA website links to a range of tasks and support for authorised firms, including links to the main pages in your sector.


  • Stay up to date

Keep up-to-date with our latest news, publications and regulatory updates by signing up to the FCA Regulation Round-up monthly email and their daily and weekly news and publications email alerts.


  • Contact

The FCA contact page has useful links and information for firms and consumers, including answers to the most frequently asked questions from firms.


  • Other information


  • FCA Handbook

The Handbook contains a complete record of the rules and legal instruments.


  • Portfolio letters

Your firm will be part of a portfolio of firms that share a common business model. The FCA send portfolio letters about the risks of harm in a portfolio and the action they expect firms to take. Your firm will be expected to review these and be able to describe what steps you have taken.


  • Financial crime

Your firm must have systems and controls in place to prevent financial crime.


  • Financial promotions and adverts

You must ensure that your financial promotions and adverts comply with FCA rules and treat customers fairly.


  • Consumer Duty

Consumer Duty sets higher, clearer standards of consumer protection across financial services and requires firms to put their customers’ needs first.


  • Treating vulnerable customers fairly

Understand your firm’s responsibilities to ensure that vulnerable consumers have an appropriate degree of protection.


  • Requirements of approved persons

Approved persons have to know and meet regulatory requirements, as well as understand how to apply them.


  • Fees and levies

Find out about the fees the FCA charge and what they cover, and the levies they collect for organisations that are part of the regulatory system.


  • Sector-specific information


  • Mainstream consumer credit lenders

Please refer to:



  • Mortgage lenders and intermediaries

Please refer to:



  • Payment services and e-money firms

Please refer to the FCA’s approach to payment services and electronic money.


In this guidance the regulator sets out what they expect from firms in order to comply with all aspects of the payment services and electronic money regulatory requirements.


  • Asset managers

Your prudential category depends on your scope of permission and the risks to your business model.


Use the prudential categories tool to identify the key regulatory requirements that determine your prudential category.


  • Credit reference agencies (CRAs) and providers of credit information services

Please refer to:



  • Non-bank lenders

Please refer to the mortgages and coronavirus guidance for firms which remains in force until varied or revoked.


  • Self-Invested Personal Pensions (SIPP) Operators

Please refer to:



The FCA might also contact you about taking part in their Early and High Growth Oversight programme, which provides in-depth support to some newly authorised firms, depending on your sector, to help you get used to your regulatory status and understand your obligations.


Need some promotional advice? If you want to understand more about how to make sure your marketing materials meet FCA standards, please click here.


About us

The Compliance workload shows no signs of decreasing. An ever-growing list of requirements and regulatory changes makes the compliance role harder than ever.


When you face business or regulatory challenges, we provide solutions that are tailor-made to your needs with a view to releasing your energies to focus on your clients.


LS Consultancy offer a complete solution with a range of cost effective, regulatory compliance and marketing products and solutions including copy advice and copy development which are uniquely suited to supporting firms.


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