Emma RadmoreThe FCA has outlined the steps it has already taken or is consulting on to reform UK investment markets, and has set out plans to speed up authorisation processes. It plans:
- to take 2 months off its current target times for complete and incomplete applications for authorisations under FSMA;
- reduce the target for deciding on VOPs to 3 months;
- retain the 3 month target for complete payment and e-money applications but reduce the time for incomplete applications to 10 months;
- complete at least half of SMF applications within 35 days and set a statutory deadline of 2 months for all applications.
It would measure success against these targets from January 2026.