Who this helps
- - FCA authorisation applicants
- - SMF candidates
- - Retail advice entrants
- - Investment management teams
- - UK compliance learners
First decision
Decide which FCA permission, senior manager function, certification role, client type, and client asset exposure exists before treating an exam or title as the route.
Role tracks
Retail investment advice entrant
Licensing question
Will the person advise retail clients on retail investment products and therefore need appropriate qualification and competence evidence?
Exam or qualification check
Use FCA training and competence and TC App 4 sources before selecting a qualification route.
Register check
Use the FCA register to check firm status, permissions, and individual records where shown.
Investment manager or adviser firm applicant
Licensing question
Which permissions, senior managers, controls, financial resources, and client asset/CASS assumptions does the applicant need?
Exam or qualification check
Treat qualifications as part of competence; the authorisation file still needs permissions, governance, systems, controls, and financial resources.
Register check
Check comparable firms on the FCA register for permissions and status, not marketing descriptions.
SMF or compliance lead
Licensing question
Which senior management responsibilities, certification roles, governance committees, and conduct controls need evidence?
Exam or qualification check
Check competence and role evidence, but prepare accountability, fitness, propriety, conduct, and oversight records.
Register check
Use the FCA register and internal SM&CR map together; the register is not the whole accountability file.
Starter steps
Days 1-7
Permission and client-type map
- - Read FCA authorisation and register pages before choosing a role label.
- - Map investment management, advice, arranging/dealing, custody/CASS, client type, and financial promotion facts.
- - Open three FCA register entries for comparable firms and record permissions and status.
Days 8-30
Competence and accountability
- - Map SMF, certification, retail advice qualification, supervision, and conduct evidence.
- - Use TC App 4 only where the role actually touches retail investment advice or relevant qualification requirements.
- - Draft who owns compliance monitoring, complaints, conflicts, AML/CFT, financial promotions, and client assets.
Days 31-90
Authorisation evidence
- - Build a permissions narrative and evidence pack for FCA Connect submission.
- - Use the timeline estimator to plan delay risks around incomplete people, capital, CASS, or outsourcing evidence.
- - Prepare adviser questions for any permission, client asset, appointed representative, or financial promotion uncertainty.
Evidence to start
- - Permissions and regulated activities map.
- - SMF, certification, retail advice qualification, and supervision evidence.
- - Governance, financial resources, compliance monitoring, conduct, complaints, AML/CFT, CASS, and outsourcing notes.
- - FCA register comparison log.
What to verify
- - Whether the route is firm authorisation, appointed representative, individual approval, certification, or qualification evidence.
- - Whether retail client advice, CASS, or financial promotion facts change the route.
- - Whether the current FCA authorisation and training/competence pages have changed before filing.
Common mistakes
- - Using an exam or job title as a substitute for FCA permission analysis.
- - Leaving SM&CR accountability maps until after the business plan is drafted.
- - Ignoring CASS or financial promotion controls until late in authorisation preparation.
Disclaimer
Information on LicenseCompare is for general educational purposes only and does not constitute legal, regulatory, financial, tax, investment, or professional advice. Licensing requirements depend on facts and change over time. Always consult official regulator materials and qualified professional advisers.