FCA updates approach to authorisation

Two magnifying glasses

The Financial Conduct Authority (FCA) now regulates more than 58,000 firms, according to its latest authorisation document.

The total includes 1,500 businesses such as insurers and banks that are dual-regulated with the Prudential Regulation Authority (PRA).

And the latest document revealed that in 2017/18 the watchdog judged more than 4,400 authorisation applications from firms.

In total only 11 were refused (see graph below).

Between December 2017 and March 2018 the regulator

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