FCA closes in on authorisation targets as performance rises again
The Financial Conduct Authority has improved its delivery on the two broker-related authorisation metrics that remain in the ‘amber’ zone as it hones in on delivering a ‘green’ performance in all five relevant categories.
The latest update showed that from July to September, the regulator upped its game on authorising appointed representative-approved persons and new firms.
For AR-approved persons, the watchdog has three months to process an application. It delivered in 97.5% of cases, meaning it was ranked as ‘amber’ but within a whisker of the 98% goal to be graded ‘green’.
The performance improved from 96.3% in the previous quarter.
The FCA processed 1,395 cases with an average time to make a decision of 29 days
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