Association of Professional Compliance Consultants

The body for compliance consultants who advise firms regulated in the UK.

The APCC is active in enhancing the professional standards of compliance consultants and is recognised as a trade body by the FCA and other regulators. This provides our members with significant benefits in terms of direct access to the Regulators as well as business leads.  The APCC often works in conjunction with the FCA to pilot or test new initiatives, and we also provide with valuable feedback on specific subjects as requested by them.

FCA Authorisations Update

We have been in discussion with the FCA about improvements in case allocation timescales.  They have given us the following statement:

Corporate authorisations as a whole have benefitted from a more targeted approach and new processes.  As well as having new resources, we are committed to allocating cases on a more consistent basis which is having a more positive impact.

In the Wholesale space we are currently allocating at c8-10 weeks, however we are currently concentrating on making decisions on “older” cases so this could slip, especially with holiday period coming up, before a further improvement is expected.

In the Retail space we are currently allocating at c17 weeks (excluding P2P, which is managed separately) and expect this to continue to improve, before levelling off over the summer, similarly because of the holiday period.

The up-to-date position for payments services and e-money applications. With the same caveats as Wholesale and Retail, we are currently allocating within two weeks of receipt.

We hope this information is useful to you in managing clients expectations.