Becoming an authorised firm is an identity shift
FCA authorisation is not a permit you collect at the end of a form. It is a declaration that your firm is fit to hold client trust under the Financial Services and Markets Act 2000. The journey from "we have a business idea" to "we are an authorised firm" typically takes six to twelve months, and the work you do before you submit Connect matters more than the form itself.
This learning path orchestrates the canonical guides in the order a first-time applicant should meet them. Read each phase, follow the signpost, and return when you are ready for the next step.
Phase 1 — Perimeter check: do you need authorisation at all?
Do I need FCA authorisation?
Work through the regulated-activities perimeter, exclusions and exemptions to determine whether your business model needs FCA permission before you trade.
Phase 2 — Decide your route: direct authorisation, appointed representative, or network
Appointed representative vs direct authorisation
Compare the AR route, network membership, and direct authorisation across cost, time-to-market, governance burden and long-term flexibility.
Phase 3 — Build foundations: governance, SMFs and business plan
FCA authorisation application checklist
Comprehensive checklist of governance documents, SMF appointments, financial projections and policies you must have in place before you start drafting the Connect application.
Phase 4 — Self-assess against the five threshold conditions
FCA threshold conditions reference
The five threshold conditions explained with the evidence the FCA expects for each, plus a self-assessment framework you can run before submission.
Phase 5 — Submit your Connect application
How to apply for FCA authorisation
Step-by-step walkthrough of the Connect submission: account setup, choosing the correct application form, document bundle, fees and what happens next.
Phase 6 — Respond to the case officer through the determination period
FCA authorisation application checklist
Return to the checklist during the determination period to track case-officer queries, evidence supplied, and outstanding remediation against your original submission bundle.
You are now an authorised firm — and the obligations begin
Determination ends with a decision: authorised, authorised with restrictions, or refused. Authorisation is the start of your supervisory relationship with the FCA, not the end of the regulatory project. From day one your firm must continue to meet the threshold conditions, comply with the Principles for Businesses, the Senior Managers and Certification Regime, and the sector-specific sourcebook that governs your permissions. Bookmark the canonical guides above — you will return to them whenever you vary your permissions, add an SMF, or face supervisory scrutiny.