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    2006-03-05

SIFA 7.4 How Long Will An Application Take?

SIFA 7.4.1G

Under section 61 of FSMA, we must respond to applications to be an approved person within three months. In practice, the guideline time scale is much shorter, with the majority of applications being processed within seven working days.

SIFA 7.4.2G

It is important that you satisfy yourself that the individual is fit and proper for his role before submitting the form to us. You are responsible for the accuracy of the data and completion of the form. You must also ensure that all the questions on the form are answered completely, as failure to disclose information will prejudice the person's approval.