Our EU-headquartered client was planning on expanding its operations in the UK and had determined that they needed to become regulated. They had previously sought advice and support from elsewhere and quickly discovered that they received little help with shaping their application and preparing the company to be a regulated business. Our client was informed that it would not be able to secure approval with the existing business model.
“…positive and open discussions with the FCA, resulted in the company becoming approved in the UK.”
Through a process of detailed engagement with leadership and internal stakeholders, we set about understanding the business model and prepared a gap analysis, outlining the areas where certain technical and procedural amendments would give the company the best chance of success securing regulatory approval.
Upon completion of these amendments we were able to prepare and submit a regulatory application on behalf of the client which, along with positive and open discussions with the FCA, resulted in the company becoming approved in the UK.
Our client has continued its success story around the world and we have supported them in their mission with ongoing regulatory and governance support.