FCA consults on moving Authorisation forms from the FCA Handbook
The FCA has published a consultation paper proposing changes to various parts of the Handbook including moving Authorisation forms from the Handbook.
What's new?
On 3 September 2021, the FCA published its 33rd quarterly consultation paper (QCP), CP21/27. As with all of the FCA’s QCP’s, CP21/27 proposes changes to various parts of the Handbook, the most important of which is the removal of Authorisation forms.
What's the background?
The content of Authorisation forms (which allow firms and individuals to apply to the FCA for regulatory transactions and/or to provide notification) is either prescribed in legislation and set out in specific rules or under a Direction set out in guidance. A subset of the forms are found in the Handbook and “include all Authorisation forms made by rules and some that are made through Direction.”
What exactly is the FCA proposing?
- To not consult on any further amendments to Authorisation forms that are currently in the Handbook and made through Direction;
- To remove Authorisation forms that are made through Direction from the Handbook; and
- To seek views on whether the FCA should not consult on any form amendments and should remove all Authorisation forms from the Handbook.
In the past, the FCA has consulted on all changes to forms in the Handbook, receiving minimal feedback. However, the FCA is not legally obliged to consult in respect of forms that have been made through Direction.
These changes will interest those seeking:
- to apply to cancel;
- to apply for a variation of permission;
- to apply for a waiver;
- to apply for approved persons; and
- to apply for a publication, radio broadcast or newspaper certificate.
What happens next?
The forms will still be available for reference on the FCA's website. See the forms that will be affected in sections 3.10 and 3.12 of CP21/27.
The deadline for feedback on the proposed changes is 4 October 2021.
