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fca authorisation consultants

Obtaining FCA authorisation for your business is a crucial step if you're planning to conduct activities related to investments, payments, mortgages, consumer credit, or claims management. The Financial Conduct Authority (FCA) requires firms to meet its rules and minimum standards, known as threshold conditions, unless they qualify for an exclusion or exemption.

At MEMA Consultants, we specialize in guiding firms through the FCA authorisation process. Our dedicated Regulatory Directors provide personalized support, helping you understand and meet the FCA's requirements.

Expert Guidance for FCA Application

Our process begins with a thorough fact-finding session to understand your business model and services. We provide tailored advice on compliance and risk management, ensuring your application meets the FCA's standards.

Comprehensive Support for Your FCA Application

MEMA Consultants prepares a range of essential documents to support your application, including a Regulatory Business Plan and Compliance Monitoring Plan. We also provide a compliance manual to help you implement FCA requirements once authorised.

Efficient Application Submission

We assist you in completing the online application and submitting all necessary forms to the FCA. In case of any queries from the FCA, your dedicated Regulatory Adviser will help craft a comprehensive response.

Benefit from Exclusions or Exemptions

Certain business models may qualify for exclusion or exemption from FCA authorisation. This applies to professional firms like solicitors, or where specific financial services structures fall outside of regulation. Appointed Representatives, working on behalf of a Principal, also fall under exemptions.

Get Expert Guidance from MEMA Consultant

If you're unsure about your need for FCA authorisation, we can help clarify your situation. Our goal is to ensure that your application process is successful and that your business is well-prepared for positive customer outcomes.

Regulatory Sectors

FCA AuthorisationCredit BrokingSenior Managers And Certification RegimeInsurance BrokingAppointed Representative And Principal FirmsConsumer CreditMortgage BrokingFuneral PlansVariation Of Permissions

Compliance Services

Blockchain ConsultingRegulatory TrainingFCA Complaints HandlingFCA Compliance ConsultantsFinancial CrimeRegulatory Compliance DocumentationCompliance Advisory

Ongoing FCA Compliance

As an FCA authorised person or firm, you might need help to ensure you comply with the FCA’s rules.

We provide our clients with support they need to maintain compliance and avoid breaching the rules. Our bespoke service is individually tailored to each of our client’s requirements and objectives to help them meet in the best way possible.

Whether you need documentation to help you remain compliant, want ongoing advice or support, impartial monitoring of your activities or anything else, MEMA may be able to help.

Why Choose MEMA?

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MEMA has been supporting firms through the FCA compliance process since 2019. In that time, we have helped hundreds of businesses to successfully gain and retain FCA authorisation.

We have a unique blend of experience from ex-regulators, big 4 consultants and fin/regtech specialisation. Our team is highly experienced and expertly skilled. We specialise in providing our clients with solutions to often complex regulatory requirements and compliance needs.

Our unique industry insight and comfort with compliance enables our team to support you to the fullest extent possible, helping to develop your business model and compliance.

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Insights

October 18, 2022

How to get FCA authorised (part 3)

As part of our How To series on 'How to get FCA authorised'. We are addressing all aspects of preparing for FCA authorisation. This will look to cover a range of key items your business should consider from the location of offices, and expected fees to resourcing.
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April 11, 2021

Preparing for your annual FCA Reporting Requirements

Your firm is due to submit its regulatory return(s) within 30 business days of your Accounting Reference Date. Reporting requirements apply to all firms with permissions to carry on regulated claims management activities, including firms with temporary permissions.
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April 11, 2021

Preparing financial projections for the FCA

In this article, we briefly cover the financial projections that companies are expected to produce when submitting their application to the Financial Conduct Authority (FCA).
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May 18, 2023

Use of Personal Communications Channels. A Compliance Concern for Regulated Entities

In today's digital age, the use of personal communications channels for work purposes has become a major point of contention for regulated entities. Financial services regulators globally,
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April 20, 2023

FCA's New Consumer Duty Takes Center Stage Amid Cost of Living Crisis

The Financial Conduct Authority (FCA) has highlighted its focus on ensuring good consumer outcomes in its latest Business Plan, selecting 'putting consumers' needs first' as one of its four priority areas for the upcoming year. This comes in response to the ongoing cost of living crisis, and the FCA is committing additional resources and headcount to Consumer Duty-related activities.
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January 9, 2023

What are the FCA Fit & Proper Requirements and Conduct rules?

Following on from our previous article about the Senior Manager regime, we provide more detail about the FCA Fit & Proper Requirements and Conduct rules.
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May 21, 2021

Claims Management Phoenixing

The FCA has released its latest consultation paper affecting the Claims Management Industry.
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April 13, 2022

FCA Consumer Duty

The FCA has outlined a new Consumer Duty. This will most likely be set out as rules and guidance in the FCA handbook. Ultimately, there will be a higher level of protection for consumers and a higher level of expectation of care from firms providing services.
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Navigate the New Financial Crime Landscape with FCA's Updated Guide and MEMA Consulting's Expertise

In response to evolving regulatory landscapes and recent global events, the Financial Conduct Awareness (FCA) has unveiled proposed updates to its Financial Crime Guide, CP24/9. The revisions aim to enhance sanctions systems, address proliferation financing, and refine transaction monitoring with a focus on modern technologies like Artificial Intelligence and cryptoassets. With these updates, the FCA seeks to fortify financial crime prevention measures and ensure firms are well-equipped to meet new challenges. As firms adapt to these changes, MEMA Consulting stands ready to offer expert guidance and tailored support, helping businesses align with FCA's stringent standards and navigate this complex regulatory terrain effectively.
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AML compliance in cryptocurrencies is impacted by the EU's expansion of policies

The European Parliament has decided to approve a set of rules to enhance the EU's anti-money laundering and terrorist financing tools, with a specific focus on the cryptocurrency business. The regulation mandates the implementation of heightened due diligence protocols and identity verifications for customers. Obligatory entities, including cryptocurrency asset managers and institutions, are required to notify Financial Intelligence Units (FIUs) or other competent authorities of any suspicious activities. An elevated degree of due diligence is being applied to the cryptocurrency sector.
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December 29, 2022

What is the Appointed Representative Regime?

In this series of articles, MEMA will break down what is the Appointed Representative Regime and what steps your organsiation will need to take.
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August 22, 2022

What is terrorist financing in simple terms

In the UK, Part 3 of the Terrorism Act 2000 criminalises terrorist financing and makes it an offence to:
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April 11, 2021

FCA Crypto Requirements

The Financial Conduct Authority (FCA), the UK Regulator, has established a Temporary Registration Regime that will allow existing crypto-asset firms, who have applied to be registered with the FCA, to continue trading in the UK financial market.
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June 20, 2022

How to navigate the Skilled Person Review

As part of our How to series, we thought to release a brief guide on what to do when you are required to appoint a Skilled Persons by the regulator.
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August 29, 2022

What is Customer Due Diligence and what controls should you focus on?

Customer due diligence (CDD) is a key element in helping your firm:
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August 31, 2022

What is money laundering and what are some red flags you should consider?

Money laundering is the process of concealing or disguising the existence, source, movement, destination, or use of illicitly-derived property or funds to make them appear legitimate.

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August 12, 2022

The UK Financial Crime Legislation framework

MEMA has produced this financial crime series for firms, to understand the steps they can take to reduce their financial crime risk. It does not include all the financial crime risks a firm may face but provides an understanding of FCA expectations in this complex field.

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November 10, 2021

Regulatory considerations for Consumer Credit Firms

The FCA has set out new rules for claims management companies (CMCs) to protect consumers against excessive charges. Some of the major changes include:

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Your key contacts

ADEMOLA OMOSANYA

Ademola is an accomplished consultant with over a decade of experience across regulation, banking, and consumer credit. As MEMA Consultants co-founder, he leverages extensive regulatory expertise to guide clients through critical processes and full compliance. His experience across sectors enables tailored solutions to complex business challenges. Ademola partners with clients as a strategic advisor to help futureproof their business through an in-depth understanding of the regulatory landscape.

MISAH MARAGH

Misah is a director at MEMA Consultants with over a decade of experience in financial services. Holding a legal background and postgraduate qualification, she previously worked at the Financial Conduct Authority. Misah has led compliance transformation for global consumer services organisations across Europe, the Caribbean, and Latin America. Her expertise includes implementing compliance frameworks for financial regulations, FCPA, UK Bribery Act, data privacy, and Sarbanes-Oxley. Misah is skilled at advising clients on operational and strategic projects, leveraging her in-depth knowledge of regulatory environments to deliver solutions tailored to complex business needs.

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FCA AUTHORISATION

Consumer CreditCredit BrokingFuneral PlansPayment ServicesInsurance BrokingMortgage BrokingVariation of PermissionsSenior Managers and Certification RegimeAppointed Representative and Principal Firms

COMPLIANCE SERVICES

Horizon ScanningRegulatory TrainingFCA Compliance ConsultantsRegulatory Compliance DocumentationFCA Complaints HandlingFinancial Crime

CONTACT US

contact@memaconsultants.com03301330811Suite 1810, Unit 3a,
34-35 Hatton Gardens,
Holborn, EC1N 8DX

FCA Authorisation