All FCA authorisation metrics out of red zone

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No Financial Conduct Authority authorisation metrics were rated red in the third quarter of 2023/24, with brokers also seeing an improvement in most key areas affecting the sector.

The watchdog has been delivering ongoing improvements in authorisations after committing to ‘burndown plans’ in October 2022, with additional resources where needed following criticism.

In the latest update for October to December 2023, nine metrics were green, six amber and none were red.

Key areas

There are five areas that touch the broking community.

The FCA processed 98.6% of applications on time for ‘approved person’ status submitted by an authorised firm under the Senior Manager and

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