Financial Conduct Authority (FCA): register, licences and requirements
The Financial Conduct Authority (FCA) is the UK's financial conduct regulator and the prudential supervisor for around 34,000 solo-regulated firms. Regulating conduct across 35,500 businesses, the FCA licenses payment institutions, electronic money institutions, investment firms, consumer credit lenders, and cryptoasset businesses transitioning to the new FSMA cryptoasset regime opening on 30 September 2026.
How to check a firm on the FCA register
Users can search the Financial Services Register by firm name, 6-digit reference number (FRN), individual name (IRN), or postcode on register.fca.org.uk/s/. An active entry displays the firm's reference number, authorization status (such as Authorised, Registered, or MLRs Registered), permissions and regulated activities, appointed representatives, trading names, registered address, and any supervisory requirements or restrictions.14
At a glance
| Official name | Financial Conduct Authority |
|---|---|
| Jurisdiction | United Kingdom |
| Type | Conduct regulator |
| Headquarters | London1 |
| Founded | 20132 |
| Website | fca.org.uk1 |
| Public register | Official public register3 |
| Licence types in the Atlas | 9 |
What FCA supervises
The Financial Conduct Authority regulates the conduct of around 35,500 financial services firms and financial markets across the United Kingdom, and serves as the prudential supervisor for approximately 34,000 solo-regulated firms. Its statutory objectives under the Financial Services and Markets Act 2000 are to protect consumers, protect and enhance the integrity of the UK financial system, promote effective competition, and support medium to long-term UK economic growth.1
- Electronic money institutions (Authorised and Small EMIs) under the Electronic Money Regulations 20114
- Payment institutions (Authorised and Small PIs, and RAISPs) under the Payment Services Regulations 20174
- Cryptoasset businesses registered under the Money Laundering Regulations 2017 and authorised under FSMA15
- Investment firms, asset managers, and principal trading firms under MIFIDPRU and FSMA Part 4A7
- Credit institutions, banks, building societies, and credit unions (conduct supervision, dual-regulated with PRA)1
- Consumer credit providers, lenders, and debt advice bodies under FSMA Part 4A7
- Alternative investment fund managers (AIFMs) and UCITS management companies under UK AIFMD and UCITS regulations4
- Multilateral trading facilities (MTFs), organised trading facilities (OTFs), and recognised investment exchanges7
Licences FCA issues
- EMI · United Kingdom
Small Electronic Money Institution (SEMI) Registration
- EMI · United Kingdom
Authorised Electronic Money Institution (AEMI)
- FM · United Kingdom
Alternative Investment Fund Manager (AIFM) Authorisation / Registration
- IF · United Kingdom
MIFIDPRU Investment Firm Authorisation (Part 4A FSMA)
- Credit · United Kingdom
Consumer Credit Full Permission Authorisation (Part 4A FSMA)
- PI · United Kingdom
Registered Account Information Service Provider (RAISP)
- PI · United Kingdom
Small Payment Institution (SPI) Registration
- PI · United Kingdom
Authorised Payment Institution (API)
- VASP · United Kingdom
Cryptoasset Business Registration (MLRs 2017)
Lesser-known services for applicants
Pre-application meeting / pre-assessment
The FCA operates the Pre-Application Support Service (PASS), which is free of charge. Applicants request a meeting via the FCA Connect portal, providing proposed business models and regulatory perimeter analysis. PASS covers wholesale, payments, insurance, cryptoasset, and consumer investment applications, as well as complex change in control notifications and rule waivers.4
Innovation hub
The FCA Innovation Hub supports innovative fintech and regtech firms through dedicated services including Innovation Pathways (direct regulatory guidance), the Digital Sandbox (synthetic datasets and APIs for testing proof-of-concepts), the Smart Data Accelerator, and TechSprints tackling industry challenges.4
Regulatory sandbox
The FCA Regulatory Sandbox operates an open year-round application window allowing authorized and unauthorized firms to test innovative propositions live with real UK consumers under tailored safeguards. Testing tools include restricted authorization, rule waivers or modifications under FSMA Section 138A, individual guidance, informal steers, and no-enforcement action letters.5
Application portal: FCA Connect (https://www.fca.org.uk/firms/connect)6
Fee schedule: FCA Handbook FEES Manual (FEES 3 for authorization application fees and FEES 4 for periodic annual funding requirement levies)7
Compare with other regulators: pre-application meetings · sandboxes and innovation hubs.
Statistics
- Around 35,500 financial services businesses subject to FCA conduct regulation in the UK (FCA overview, 2026-07-09)1
- Around 34,000 solo-regulated firms prudentially supervised directly by the FCA (FCA overview, 2026-07-09)1
- Around 1,500 banks, building societies, credit unions, insurers and major investment firms dual-regulated with the PRA (FCA overview, 2026-07-09)1
- 97.6% of applications determined within performance deadlines across all metric areas in Q4 2025/26 (99.2% within statutory deadlines) (authorisations metrics, 2026-05-26)10
- 310 Part 4A solo-regulated authorisations (New Firm Authorisation) determined in Q4 2025/26 with a median determination time of 138 calendar days (authorisations metrics, 2026-05-26)10
- 44 Payment Services and Electronic Money Regulations authorisations/registrations (PS1-4) determined in Q4 2025/26 with a median determination time of 207 calendar days (authorisations metrics, 2026-05-26)10
- 7 cryptoasset AML/CFT registrations (5MLD) determined in Q4 2025/26 with a median determination time of 236 calendar days (authorisations metrics, 2026-05-26)10
- 365 change in control notifications determined in Q4 2025/26 with a median determination time of 41 calendar days (Lower Quartile: 18 days, Upper Quartile: 65 days) (authorisations metrics, 2026-05-26)10
Fees and timelines
| Licence | Fee | Amount |
|---|---|---|
| Authorised Electronic Money Institution (AEMI) | application | GBP 5,640 (Pricing Category 5)7 |
| Authorised Electronic Money Institution (AEMI) | annual | GBP 2,000 standard minimum fee (Fee-block A.0) plus GBP 2,043 extra fee for large electronic money institutions (Fee-block G.10) plus variable levy based on average outstanding electronic money8 |
| Small Electronic Money Institution (SEMI) Registration | application | GBP 1,130 (Pricing Category 3)7 |
| Small Electronic Money Institution (SEMI) Registration | annual | GBP 1,418 extra fee for small electronic money institutions (Fee-block G.11)8 |
| Authorised Payment Institution (API) | application | GBP 5,640 (Pricing Category 5 for payment services a-e) or GBP 2,820 (Pricing Category 4 for payment services f-h)7 |
| Authorised Payment Institution (API) | annual | GBP 2,000 standard minimum fee (Fee-block A.0) plus GBP 646 extra fee for payment services providers (Fee-block G.3) plus variable levy based on relevant payment turnover8 |
| Small Payment Institution (SPI) Registration | application | GBP 1,130 (Pricing Category 3)7 |
| Small Payment Institution (SPI) Registration | annual | GBP 646 extra periodic fee for small payment institutions (Fee-block G.3)8 |
| Registered Account Information Service Provider (RAISP) | application | GBP 1,130 (Pricing Category 3)7 |
| Registered Account Information Service Provider (RAISP) | annual | GBP 646 extra periodic fee for registered account information service providers (Fee-block G.3)8 |
| Cryptoasset Business Registration (MLRs 2017) | application | GBP 11,260 (Pricing Category 6 for MLRs cryptoasset registration)7 |
| Cryptoasset Business Registration (MLRs 2017) | annual | Periodic supervisory fee under Fee-block G (firms registered under MLRs 2017) based on cryptoasset revenue8 |
| MIFIDPRU Investment Firm Authorisation (Part 4A FSMA) | application | GBP 2,820 (Category 4 for advisory/corporate finance) to GBP 11,260 (Category 6 for MiFID investment managers or principal trading firms)7 |
| MIFIDPRU Investment Firm Authorisation (Part 4A FSMA) | annual | GBP 2,000 standard minimum fee (Fee-block A.0) plus variable levy based on funds under management (A.7), principal trading (A.10), or client assets (A.21)8 |
| Deposit Taker / Commercial Bank Authorisation (Part 4A FSMA, Dual-Regulated) | application | GBP 28,150 (Pricing Category 7 FCA application fee for deposit takers, dual-regulated with PRA)7 |
| Deposit Taker / Commercial Bank Authorisation (Part 4A FSMA, Dual-Regulated) | annual | GBP 1,000 to the FCA and GBP 600 to the PRA minimum fee (Fee-block A.0) plus variable fee on modified eligible liabilities (Fee-block A.1)8 |
| Licence | Statutory deadline | Observed |
|---|---|---|
| Authorised Electronic Money Institution (AEMI) | 3 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Regulation 9 of EMRs 20119 | Median elapsed determination time of 207 calendar days (Lower Quartile: 124 days, Upper Quartile: 269 days) across 44 payment services and e-money applications (PS1-4) determined in Q4 2025/2610 |
| Authorised Payment Institution (API) | 3 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Regulation 9 of PSRs 201711 | Median elapsed determination time of 207 calendar days (Lower Quartile: 124 days, Upper Quartile: 269 days) across 44 cases (PS1-4 Payment Services & E-Money Authorisations) determined in Q4 2025/2610 |
| Cryptoasset Business Registration (MLRs 2017) | 3 months from receipt of a complete application under Regulation 59(3A) of the Money Laundering Regulations 201712 | Median elapsed determination time of 236 calendar days (Lower Quartile: 172 days, Upper Quartile: 302 days) across 7 cases closed in Q4 2025/26 (A1.3 5MLD registrations)10 |
| MIFIDPRU Investment Firm Authorisation (Part 4A FSMA) | 6 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Section 55V of FSMA 200013 | Median elapsed determination time of 138 calendar days (Lower Quartile: 105 days, Upper Quartile: 183 days) across 310 Part 4A solo-regulated New Firm Authorisations determined in Q4 2025/2610 |
| Deposit Taker / Commercial Bank Authorisation (Part 4A FSMA, Dual-Regulated) | 6 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Section 55V of FSMA 200013 | 12 to 18 months in practice for joint determination by the Prudential Regulation Authority and FCA through the New Bank Start-up Unit1 |
Changing the owner of a licensed firm
Prior approval required. Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.16
Buying a company that already holds one of these licences is often faster than applying. See ready-made licensed companies · emoney payments · investment brokerage · crypto digital assets.
Laws FCA applies
- Financial Services and Markets Act 2000: 2000 c. 8
- The Payment Services Regulations 2017: S.I. 2017/752
- The Electronic Money Regulations 2011: S.I. 2011/99
- The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017: S.I. 2017/692
Recent and upcoming changes
- 2026-09-30: FCA opens the cryptoasset authorization gateway at 7:00 AM for firms to apply for Part 4A permission or permission variations under the new FSMA cryptoasset regime ahead of full commencement (gateway application window closes 28 February 2027).17
- 2026-06-30: FCA published final rules and guidance for the new FSMA cryptoasset regime, and the Money Laundering and Terrorist Financing (Amendment) Regulations 2026 commenced, updating Schedule 6B change in control requirements for cryptoasset firms.15
- 2026-02-04: The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (SI 2026/102) were made by Parliament, formally bringing qualifying cryptoassets into the UK regulated activities perimeter.15
- 2027-10-25: UK's new FSMA regulatory regime for cryptoassets is scheduled to come into full force, after which only FSMA-authorised firms or firms protected by statutory saving provisions may provide regulated cryptoasset services in the UK.15
Contacts and public register
Address: 12 Endeavour Square, London E20 1JN, United Kingdom1
Website: fca.org.uk1
Check whether a firm is licensed: official register3 · official register14 · official register14.
Frequently asked questions
What is the difference between an Authorised EMI and a Small EMI under the FCA?
An Authorised Electronic Money Institution (AEMI) can issue unlimited electronic money and provide payment services across the UK, subject to a GBP 5,640 application fee, capital requirements, and ongoing reporting. A Small EMI (SEMI) faces a simplified registration (GBP 1,130 fee) but is subject to a strict turnover cap of EUR 5,000,000 in average outstanding electronic money and monthly payment volumes up to EUR 3,000,000.
How does the UK regulate cryptoasset firms in 2026 and what is the new gateway?
Cryptoasset firms currently operate under Money Laundering Regulations (MLRs 2017) registration. On 4 February 2026, Parliament made SI 2026/102, bringing cryptoassets under FSMA. The FCA opens a dedicated application gateway at 7:00 AM on 30 September 2026 (closing 28 February 2027) for firms to apply for Part 4A permissions before the regime fully commences on 25 October 2027. Existing MLR registrations will not automatically convert.
What is the FCA Pre-Application Support Service (PASS) and how much does it cost?
The Pre-Application Support Service (PASS) is a free initiative provided by the FCA. Prospective applicants submit an engagement request via FCA Connect outlining their business model and regulatory analysis. Case officers review the proposal to clarify regulatory perimeter requirements, discuss authorization expectations, and identify potential issues before formal application submission, reducing subsequent assessment delays.
What are the statutory change of control thresholds and rules under the FCA?
Under FSMA Part 12, proposed acquirers must obtain prior FCA approval before acquiring or increasing control; failure to do so is a criminal offence under Section 191F. For Directive firms (including payment and e-money institutions), thresholds are 10%, 20%, 30%, and 50%. The statutory assessment period is 60 business days from complete acknowledgment, pausable once for up to 30 business days for information requests.
How does the FCA Regulatory Sandbox work for innovative fintech firms?
The FCA Regulatory Sandbox operates an open, year-round application window for authorized, unauthorized, and technology firms testing innovative products live with UK consumers. It provides access to regulatory expertise and tools including restricted authorization, rule waivers or modifications under FSMA Section 138A, individual guidance, and no-enforcement action letters to facilitate safe market testing in a controlled environment.
Sources
- fca.org.uk: the fca · retrieved 2026-09-24
- en.wikipedia.org: Financial Conduct Authority · secondary · retrieved 2026-09-24
- register.fca.org.uk: s · retrieved 2026-09-24
- fca.org.uk: pre application support service · retrieved 2026-09-24
- fca.org.uk: regulatory sandbox · retrieved 2026-09-24
- fca.org.uk: connect · retrieved 2026-09-24
- fca.org.uk: fees · retrieved 2026-09-24
- fca.org.uk: how we calculate annual fees · retrieved 2026-09-24
- legislation.gov.uk: contents · retrieved 2026-09-24
- fca.org.uk: fca authorisations operating service metrics 2025 26 q4 · retrieved 2026-09-24
- legislation.gov.uk: contents · retrieved 2026-09-24
- legislation.gov.uk: contents · retrieved 2026-09-24
- legislation.gov.uk: contents · retrieved 2026-09-24
- fca.org.uk: financial services register · retrieved 2026-09-24
- fca.org.uk: new regime cryptoasset regulation · retrieved 2026-09-24
- fca.org.uk: control thresholds bands · retrieved 2026-09-24
- fca.org.uk: how gateway will operate · retrieved 2026-09-24
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