FCA Regulatory Perimeter Assessment
Answer a few questions about what your firm does and get a mapped view of which regulated activities you are carrying on, with the PERG and RAO references behind each one. Free, no sign-up.
Takes about 5 minutes8 regulated areas coveredResults on screen, nothing emailed
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What the assessment gives you
Instant Clarity
Get immediate answers on which FCA permissions and sourcebooks apply to your business model.
PERG/RAO Mapping
Direct references to Perimeter Guidance (PERG) and Regulated Activities Order (RAO) for each activity.
FCA Good Practice
Incorporates FCA's published good practice guidance to help you avoid common application pitfalls.
Readiness Assessment
Score your application readiness based on business model clarity, conduct understanding, and resource preparedness.
The 8 regulated areas it checks
Why This Tool Exists
Operating outside the FCA's regulatory perimeter, or inside it without authorisation, is a criminal offence under s19 FSMA (the general prohibition). Many businesses unknowingly carry on regulated activities, particularly in areas like credit broking, insurance distribution, and payment services. This tool helps you assess whether your activities require FCA authorisation before it becomes an enforcement issue.
How to Use This Tool
Describe your business activities
Select the activities your business performs from a structured list covering lending, broking, advising, dealing, arranging, and managing.
Check against regulated activities
The tool maps your activities against the Regulated Activities Order (RAO) to identify which require authorisation.
Review your perimeter position
Receive a clear assessment of which activities are regulated, which exemptions may apply, and what authorisation you need.
Common Mistakes This Tool Prevents
Assuming an activity is unregulated because no money changes hands directly
How this tool helps: Identifies regulated activities like arranging and advising that don't require direct financial transactions
Relying on exclusions that don't actually apply to the firm's specific circumstances
How this tool helps: Tests each claimed exclusion against its conditions to verify it genuinely applies
Not recognising that introducing customers to financial products is credit broking
How this tool helps: Flags common activities like referral arrangements that constitute regulated credit broking
Failing to update the perimeter assessment when the business model changes
How this tool helps: Provides a structured framework for reassessing the perimeter when activities evolve
Frequently Asked Questions
Do I need FCA authorisation?
You need FCA authorisation if you carry on a regulated activity by way of business in the UK and no exemption or exclusion applies. Regulated activities are set out in the Regulated Activities Order (RAO) and include dealing, arranging, advising, managing, lending, and operating payment or e-money services. This tool maps your activities to the perimeter to indicate whether authorisation is likely required.
What is the FCA regulatory perimeter?
The regulatory perimeter is the boundary between activities that require FCA authorisation and those that do not. It is defined by FSMA, the RAO, and the FCA's Perimeter Guidance manual (PERG). Whether you fall inside the perimeter depends on the specific activity, the instruments involved, and whether you act by way of business.
What happens if I operate without authorisation?
Carrying on a regulated activity without authorisation breaches the general prohibition in section 19 FSMA. It is a criminal offence punishable by up to two years' imprisonment and an unlimited fine, and agreements made in the course of unauthorised business may be unenforceable.
Need Perimeter Advice?
Our regulatory experts can conduct a detailed perimeter analysis for your business, advise on whether you need authorisation, identify the right permissions, and guide you through the application process.
Need Implementation Support?
Our regulatory experts help firms navigate FCA authorisation, implement compliance frameworks, and maintain ongoing regulatory obligations.
Phone: 0330 133 0811
Email: contact@memaconsultants.com