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Home Deemar News OFT licence holders ‘important dates’ to obtain FCA interim permissions
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OFT licence holders ‘important dates’ to obtain FCA interim permissions

There is a short timetable to the transfer and the FSA is keen to make the transition as straightforward as possible. This means that there will be a phased approach to the transfer, with an interim period starting in April 2014 and moving to full implementation by April 2016.

  • From Autumn 2013, existing OFT licence holders can apply for interim permission so that they can continue to operate;
  • They will have to provide limited information and pay a one off fee;
  • Existing OFT licences will lapse on 31 March 2014 and FCA interim permissions will begin from 1 April  2014;
  • The interim permission regime will end in 2016 and firms need to be fully authorised by that time.
 
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