The FCA has published its latest Quarterly Key Performance Indicators (KPIs) report with data as at June 2016. The report sets out, among others, the FCA’s KPIs for:

  • Authorisation applications for a Part 4A permission from solo-regulated firms  - The FCA has confirmed that the average processing time (APT) for determined applications, in the period of April to the end of June 2016, was between 0 to a maximum of 74 weeks for retail firms and 2 to a maximum of 53 weeks for wholesale firms. The figures also indicate that the volume of determined applications has increased compared to the first quarter of 2016.    
  • Variation of permission applications from solo-regulated authorised firms - The FCA has confirmed that the APT of determined applications during the relevant quarter, April to the end of June 2016, was between 0 to a maximum of 44 weeks for retail firms and between 0 and a maximum of 56 weeks for wholesale firms. Equally, the volume of determined applications has increased compared to the first quarter of 2016.

In its report, the FCA confirmed that during the relevant quarter, it did not refuse any applications for Part 4A permission or for variation of existing permissions. Instead, the FCA confirmed that there was an increase in the number of applications withdrawn by firms.