Following the FSA’s adoption in April 2012 of an internal twin peaks model for supervision, on 15 October 2012 the FSA published a statement announcing the implementation of an internal twin peaks model for authorisation. This will only affect firms that will be dual regulated under the new regulatory structure (due to be implemented in April 2013), with such firms now being subject to assessment by both the Prudential Business Unit and the Conduct Business Unit. The FSA has said that this will only change how applications are processed internally, i.e. the submission process will not be affected.