A simplified application process will help firms apply for FSA authorisation.
General insurance, mortgage and investment companies will now be able to build their own individual tailored application pack.
Also, the FSA has redeveloped its change of control forms for firms applying to alter the ownership of a firm.
The FSA is keen to:
• reduce the overall cost to firms
• increase and simplify guidance
• improve system navigation to ensure the user has the correct form
• be user friendly
• remove unnecessary questions.
It has also introduced:
• tailored handbooks
• a single invoice for fees and levies from the FSA, Financial Services Compensation Scheme and Financial Ombudsman Service
• tailored webpages for small firms
• a wide range of newsletters, workshops, training and eLearning courses.
