How we are making form filling easier for applicants

Emily Shepperd, Chief Operating Officer and Executive Director of Authorizations at the Financial Conduct Authority (FCA), published a press release in which she briefly informs of the ongoing work of the FCA to simplify the form-filling process for authorization applications. The goal, so Shepperd, is to create a more efficient and user-friendly system for firms and individuals seeking authorization to offer regulated financial products and services. Another priority is to remove redundant forms and duplicate information within forms to only collect high quality data that allows the Authority to respond quickly to applications.
The first form the FCA is currently focusing on is Form A, which is used for Senior Management Functions and Controlled Functions applications and the most used form of all FCA forms. The user tests on new Form A have been completed and the form will now be phased in gradually. As with all (upcoming) form redesigns, the improvements include simplifying language, offering better guidance to applicants on how to file the form, and clearer signposting of mandatory data fields.
In this context, Shepperd also notes that the processing time for applications naturally strongly depends upon the quality of data supplied by firms and individuals filing a form which is why the FCA has now included advice in this context on its dedicated authorization website. To conclude, Shepperd notes that the FCA would highly welcome any feedback on the new forms as they are being rolled out.