What is FCA authorisation for a SEMI?

FCA authorisation for a SEMI (Small Electronic Money Institution) is the regulatory permission to operate under FCA rules, meeting requirements for governance, capital, compliance, AML/CTF, customer protection and other regulatory obligations.

What documents are required for an FCA authorisation application for a SEMI?

Typically required documents include business plan, governance structure, financial projections, AML/KYC policies, customer due diligence processes, risk management framework, details of senior persons, internal control structures, and proof of capital or financial capacity per FCA requirements.

How long does the FCA authorisation process take for a SEMI?

The duration varies depending on how well prepared the application is, the complexity of operations, the quality of responses to queries, and FCA processing times; it can range from several weeks to a few months.

Why is a gap & readiness assessment important?

It helps identify weaknesses or missing elements in your structure, policies, operations or systems before filing, reducing the risk of rejection or delays and ensuring smoother FCA review.

Does the service include handling FCA feedback or clarifications after submission?

Yes. Part of the drafting & submission support includes assisting you in responding to FCA’s follow-up questions, providing additional materials or clarifications as needed.

What does regulatory readiness validation cover?

It covers verifying that your policies, controls, governance, financial projections, staffing, customer due diligence, risk framework and capital are aligned with FCA expectations before application.

SEMI FCA Authorisation Application Draft & Submit

FCA Authorisation – Application Drafting & Submission

ABM provides end-to-end support for Small Electronic Money Institution (SEMI) registration, guiding firms through the complex FCA authorisation process with precision and efficiency. Our approach ensures that every regulatory requirement is addressed comprehensively, minimizing delays and strengthening the likelihood of approval.

Drafting Regulatory Business Plans

We prepare detailed business plans that reflect the firm’s proposed activities, customer base, risk profile, and operational structure. Each plan is carefully aligned with FCA expectations, covering strategy, market positioning, product scope, compliance controls, and governance arrangements. By demonstrating both commercial viability and regulatory awareness, we create a strong foundation for approval.

Demonstrating Fitness and Propriety of Management

The FCA places significant emphasis on the competence and integrity of senior management and key function holders. We assist in preparing fit and proper assessments, including CVs, role descriptions, and evidence of experience, ensuring that individuals demonstrate the expertise, integrity, and accountability required by the regulator. This includes addressing responsibilities under the Senior Managers and Certification Regime (SM&CR).

Ensuring Capital Requirements are Met

We help firms demonstrate that they meet the minimum capital thresholds for SEMIs and maintain ongoing financial resilience. This involves preparing detailed capital adequacy statements, financial forecasts, liquidity planning, and stress-testing scenarios. Our structured approach ensures that firms not only meet entry-level requirements but also demonstrate their ability to sustain operations in line with FCA prudential standards.

Preparing Safeguarding Arrangements

Robust safeguarding is central to FCA authorisation. We design safeguarding frameworks that protect client funds through segregated accounts, reconciliation processes, and risk-based controls. This includes drafting safeguarding policies, outlining daily reconciliation procedures, and ensuring clear arrangements with safeguarding account providers. These safeguards reassure both the FCA and end-customers of the institution’s financial soundness.

Submitting All Necessary Forms and Documentation to the FCA

ABM manages the full submission process, ensuring accuracy, completeness, and regulatory alignment across all application materials. From the business plan and compliance framework to AML policies, governance charts, and safeguarding statements, we compile a fully compliant application pack. We also liaise with the FCA during the review process, addressing queries, clarifications, and information requests to help secure timely authorisation.