FSA approval waiting times at record high of 23 weeks
Regulatory approval waiting times for financial service start-up companies has reached a record high of 22.9 weeks.
According to data from Reynolds Porter Chamberlain (RPC) the waiting period for Financial Services Authority (FSA) approval has risen for the fourth consecutive quarter, and is now 9% longer than the previous record peak of 21.1 weeks, in the second quarter of 2010.
RPC stated that approval times are increasing because the FSA is applying more scrutiny to start-ups’ business plans than ever before, and also due to the shake-up of the regulator, into a twin peaks model which will take effect next
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Wakam receives PRA approval for new £500m GWP UK insurer
- Aviva’s David Martin on the art of the possible
- Brokers push for more from RSA/NIG