Unlocking the key components of an effective FCA Regulatory Business Plan

Oct 20th '23

Navigating the intricacies of Financial Conduct Authority (FCA) Authorisation: the imperative of a regulatory business plan.


The labyrinthine process of obtaining authorisation from the FCA necessitates a multidimensional approach. Central to this journey is the Regulatory Business Plan (RBP), an indispensable manuscript that serves as the nucleus of your application.


  • The cornerstones of the application process

At the commencement of your authorisation journey, you’ll be required to furnish a multitude of information via the FCA Connect Service. This platform is the primary conduit for myriad applications and notifications, ranging from ‘Approved persons’ to ‘Variation of permission’ and ‘Waivers and CRR permissions’. The FCA’s application template categorizes this data under distinct headings like ‘Programme of Operations’, ‘Business Plan’, ‘Structural Organisation’, ‘Safeguarding’, and ‘Governance’, among others.


  • The architecture of a regulatory business plan

The Regulatory Business Plan serves as a compendium, amassing all the requisite data in a unified document. Its architecture should parallel that of the FCA’s application form, as this symmetry enhances navigability for both the applicant and the FCA. Interlacing the RBP with cross-references to corresponding sections in the FCA form enhances its utility, thereby expediting the FCA’s assessment of your application.


  • Why choose a regulatory business plan?

While some regulators might favor a patchwork of individual documents, the RBP provides an integrated, holistic approach. It consolidates all vital components of your application into a singular, centralised repository. Feedback from the FCA validates the efficacy of a well-constructed RBP, revealing that it substantially accelerates the evaluation timeline.


  • The scope of information

Choosing to curate an RBP is not merely an administrative decision but a strategic one. An RBP should include an exhaustive inventory of documents to be presented, categorizing them based on their functional relevance in the business ecosystem. This meticulous approach enables quick retrieval and submission of documents during the FCA’s adjudicatory phase.


  • The takeaway

In essence, the Regulatory Business Plan is not an optional appendage but rather an essential cornerstone for anyone aspiring to secure FCA authorisation. Its comprehensive and structured nature streamlines the arduous process, thereby rendering it an invaluable asset in your application arsenal.






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