Businesses looking to change or add to their regulated financial activities must first seek approval from the FCA in the form of a variation of permission (VOP).
By assessing your proposed changes and identifying the permissions you require, we can help make the VOP submission process clearer and more accessible.
Contact usOur VOP service is for businesses who already have FCA approval for some regulated activities but are looking to add, remove or amend their existing permissions.
To change your business’s FCA permissions, you will need to submit a VOP permission application through Connect, the FCA’s online portal.
The application needs to demonstrate that your business has the appropriate compliance frameworks in place to deliver the new activity in line with regulatory and legislative obligations.
One of our consultants will work with you to determine what changes you are looking to make to your operations and what permissions you need to do this.
From there, they’ll help you prepare everything you need to include in our VOP application form. This will include a new Regulatory Business Plan (RBP), outlining why you are applying for the new regulated activity and how your business will ensure compliance while delivering it.
As former FCA employees, we have extensive experience handling VOP applications. We can make the application process more comprehensive.
We are upfront about our fees and you will always know what you are paying for.
We have assisted hundreds of UK firms with VOP applications with excellent results.
VOP application forms need to be submitted through Connect, the FCA’s online portal for regulated businesses.
Yes. Whether you are adding a new service or stopping an existing one, you still need to submit a VOP application form to the FCA.
From the moment your application is received, the FCA has six months to reach a decision. Incomplete applications, or delays in answering any requests from the FCA, will lead to delays, so it’s best to submit a solid application from the start.
FCA regulation and compliance can be complex, but we will help you navigate the process, allowing you to expand your business and create new revenue streams.
Contact us to talk to our friendly team about your requirements.