The FSA application process is underway:
- Brokers can now register for an application pack either online at www.fsa.gov.uk/mgi or by calling the FSA's contact centre on 0845 605 55 25 between 9am and 5pm Monday to Friday
- Once they have registered their details, firms will receive application forms in December 2003
- The FSA will begin accepting application forms from mid-January 2004
- With a maximum six month processing time, brokers must submit their application to the FSA by 13 July 2004 in order to ensure they are authorised in time
- In order to get a discount for early application brokers should submit their forms by 31 May 2004
- If an application is approved, brokers will receive a 'minded to authorise'
- In December 2004 authorised firms will receive a permission notice, confirming that they are authorised
- Brokers must notify the FSA of any changes to their business that occur between receiving the 'minded to authorise' letter and permission notice.