Authorisation
Authorisation
The FSA began regulating mortgage business on 31 October
2004 and general insurance business on 14 January 2005. The
High Street Firms Application Pack and online application
service should no longer be used to apply for authorisation
to carry on mortgage or general insurance business. Instead,
firms will need to complete the appropriate Part IV Permission
Application Pack. For more information about applying for
authorisation please see our Authorisation
pages or read our Frequently
Asked Questions.
Do I need to be FSA authorised?
If you carry on an activity regulated by the FSA (a regulated
activity ) in the UK, then you must either be authorised,
be an appointed
representative or have some other exemption
. Otherwise you commit a criminal offence. To find out more
about whether you need to be authorised or an appointed representative
for general insurance business, see our factsheet:
FSA regulation
of insurance selling and administration - will I need to be
authorised?
What are the basic requirements of authorisation?
The Threshold Conditions are the minimum requirements you
must fulfil under the Financial Services and Markets Act 2000
to become and remain authorised or be an appointed representative.
See a summary
of the Threshold Conditions.
If you are already authorised by the FSA and would like to
vary your permission to do mortgage, general insurance or
investment business, you can do this by completing our standard
variation of permission form (call 0845 606 9966 and select
Option 1 to get your copy or
download one from our website) or if you have been given
access to Firms Online, you can apply that way. (Please note
Firms Online is being rolled out to small intermediary firms
between November 2004 and February 2005.)
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The Financial Services Authority
