What is authorisation?

FCA ‘authorisation' – the formal process of becoming directly regulated by the FCA – replaced the former OFT licensing regime with effect from 1 April 2014.

Firms no longer need a consumer credit licence.  Instead, if they want to conduct any regulated activities they will need an authorisation from the FCA.  There are two types of authorisation (see information on Full and Limited Permissions later in this module).