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In a world of competitive and prosperous markets, financial governance and clear regulations are essential. This helps protect the government and ensures continued reliability and loyalty.

As more companies tackle the financial market, innovation can seem to prioritize other fundamental business considerations. The process may be too complex. Therefore, many seek help from professionals. This is where Financial Conduct Authority (FCA) compliance comes in.

FCA compliance is a kind of reality check for companies offering different financial services. It is responsible for regulating all financial services in the UK.

This regulation helps the business to compete healthy in the market and increases the overall integrity of financial services.

Today we will discuss FCA services and how you should prepare for FCA.

Who must be approved by the FCA?

Although FCA is an important document to have, not every company needs it. Yes, every business can have one to build credibility, but not every business will need one to operate.

Any company which intends to carry out activities specified by the Regulated Activities Order 2001 Where Payment Services Regulations 2017 must get FCA.

Here are some business operations that must have FCA authorization. If your company has one, you will need FCA.

  • Monetary establishments.
  • Wholesale investment firms.
  • Payment service establishments.
  • Insurance intermediaries.
  • All financial services.

Generally, businesses associated with regulated activities such as taking deposits, issuing digital currency, managing investments or trading in the commercial market must be authorized by the FCA.

How should you prepare for FCA?

The FCA expects companies to take the process seriously. They want companies to consider that everything will meet the FCA protocol standard. When a company applies for the FCA, the FCA divides it into three categories.


FCA will consider a candidate READY if they are preparing to submit the application. Here are the positive indicators you should be aware of.

  • Inquire at the FCA Contact Centre.
  • Read the information from the official FCA website.
  • Search for legal compliance.
  • Management of your regulatory obligations.


Once the phase of READY is offered, CAF will examine the WILL with these positive indicators.

  • Be proactive in obtaining information about FCA.
  • Be honest in your dealings with FCA.
  • Demonstrate effort to understand FCA regulations.
  • Availability of staff to respond to requests.


The FCA considers you ORGANIZED if you have prepared yourself with all the necessary documents for applications. For example, the FCA could consider –

  • The reason for your application.
  • What could be an obstacle to prevent you from doing what you applied for?
  • They see if you will be able to follow the rules if you are allowed.

FCA Threshold Conditions

FCA threshold conditions are set on a minimum requirement. If a company wishes to qualify for the FCA, it must meet these basic minimums. Failure to meet these minimum requirements will result in your business failing to achieve FCA.

The threshold conditions are as follows.

  • Business model.
  • Appropriate resources.
  • Office location.
  • Effective oversight.
  • Relevance

Once your application has been submitted

Once your application is submitted, the FCA goes through the document to determine if you meet the minimum requirement. Permission is namely READY, WILLING and ORGANIZED.

FCA expects the app to contain all the necessary information about the business, business module, business operations and everything to keep things transparent. This also helps the FCA determine the request and give consent.

After reviewing the application, if the FCA believes that substantial changes need to be made, it may ask you to retake your application and make the necessary changes.

Finally, you need to keep a close eye on your authorization. The Financial Services Act 2021 allows the FCA to change your authorization. This occurs when FCA finds that you are not using your authorization correctly or have turned away from it after obtaining authorization.

So avoid applying for the regulated activity that you will not need. This will only add to the complexity of your business in the future. Instead, apply for FCA when you know all about it.

How long does it take to get the FCA?

The deadline for FCA application and registration is set by FCA. It’s not a quick process, as your business is assessed at different levels. Depending on the size of your business, this can take six months or even a year.

So, instead of thinking about how to speed up the process, you should focus on preparing the right document and business modules.

You have questions ? Drop them in the comments section. We will ensure that every query is answered.