Ensuring a Successful FCA Variation of Permission
When your business evolves, your FCA permissions need to evolve with it. Whether you're adding new regulated activities, expanding into new markets, or offering products to a different client base, obtaining a Variation of Permission (VoP) is essential to stay compliant.
At Grønblad, we specialise in guiding investment firms, fintechs, payments firms, and e-money firms through the entire VoP process.
With over 40 years of combined experience and a bespoke, cost-effective approach, we ensure your VoP application is handled thoroughly and efficiently. Our goal is to help you secure FCA approval without delays, allowing you to focus on growing your business confidently.
Ready to modify your permissions? Schedule a consultation call with us today.
What is a Variation of Permission with the FCA?
As your business expands or diversifies, your current FCA permissions may no longer cover all your activities. A Variation of Permission allows you to update your regulatory permissions to reflect changes such as:
Launching New Business Lines: Adding new services or products that fall under regulated activities.
Targeting New Client Types: Expanding your offerings to retail or professional clients.
Introducing New Financial Products: Offering innovative products that require additional permissions.
Failing to obtain the correct permissions can lead to compliance breaches, regulatory penalties, and damage to your firm’s reputation. Ensuring your permissions align with your business activities is vital for maintaining operational integrity and regulatory compliance.
How Grønblad Simplifies the FCA VoP Process
Navigating the FCA’s Variation of Permission process can be complex and time-consuming. At Grønblad, we provide end-to-end support, ensuring every aspect of your application is accurate, detailed, and aligned with the FCA’s expectations.
Our Step-by-Step Approach
Initial Consultation and Assessment: We start by understanding your business, proposed changes, and current permissions. We identify the precise permissions you need and advise on the scope of your VoP application.
Comprehensive Documentation Preparation: Our team helps you prepare all necessary documents, including business plans, governance structures, financial information, and organisational charts. We ensure every document is thorough, accurate, and ready for submission.
Regulatory Business Plan: A detailed, clear regulatory business plan is key to a successful VoP application. We craft a bespoke plan that explains the nature of your new activities, your target market, and how you’ll meet the FCA’s regulatory standards.
Application Submission and FCA Liaison: We handle the submission of your VoP application via the FCA’s Connect system. Our team liaises directly with FCA case officers, addressing any queries swiftly to keep your application on track.
Post-Approval Support:Once your new permissions are granted, we offer ongoing support to ensure your firm remains compliant and fully aligned with its updated regulatory status.
Our aim is to make the Variation of Permission process as smooth, efficient, and stress-free as possible, allowing you to focus on growing your business with confidence.
Ready to submit your Variation of Permissions to the FCA?
Don’t let the complexities of the Variation of Permission process hold your business back. With Grønblad’s expert guidance, you can secure the permissions you need to expand confidently and compliantly.
Schedule a consultation call today and take the next step towards seamless business growth.
Common Challenges in the VoP Process
The VoP process can present several challenges that may delay or derail your application. These often include:
Incomplete or Inaccurate Applications: Missing information or errors can result in delays or rejections.
Unclear Business Plans: Ambiguous descriptions of your new activities may raise concerns with the FCA.
Regulatory Queries: Unanticipated questions from the FCA can stall the process if not addressed promptly.
Why Choose Grønblad?
-
Grønblad combines the expertise of a large consultancy with the personalised attention of a boutique firm. Since 2016, we’ve built a reputation as a discreet, trusted partner for businesses worldwide. Our clients value our commitment to providing bespoke solutions, our deep regulatory knowledge, and our ability to deliver cost-effective support without compromising on quality.
Our team’s diverse background enables us to approach each application with a comprehensive perspective, ensuring every detail is considered. Our mission is to make AML registration and compliance as smooth and straightforward as possible, allowing you to focus on your core business activities.
-
In addition to new authorisations, we support firms with:
FCA Authorisation Applications: Guiding you through the FCA Authorisation process.
Change in Control (s178 Notices): Seamless handling of ownership or control changes.
AML Registration Support: Ensuring your firm complies with Anti-Money Laundering regulations.
SM&CR Compliance: Preparing senior managers for FCA interviews (SMF1, 3, 16, 17) and ensuring fitness and propriety assessments are met.
Need authorisation beyond the UK? We provide licensing support in:
Germany (BaFin): Expert native speakers to guide you through the BaFin process.
The Netherlands (AFM and DNB): Navigating Dutch regulatory requirements with confidence.