In an effort to enhance transparency over its supervisory activities, the Financial Conduct Authority (FCA) has published a press statement to inform of the availability of an updated Authorisations Operating Service Metrics. The matrix sets out the intended and actual processing times for notification and applications of firms during 2021 and 2022 and the processing times in January and February 2023.
Off-target as regards the intended processing times are still the following processes:
– new firm authorizations,
– applications to receive an „approved person“ status,
– authorizations, registration, and notifications in connection with payment services and e-money providers, and
– decisions on proposed changes in control of firms.