Who requires or would benefit from Regulatory Authorisation?

Any UK-based start-up looking to perform regulated activities in the financial services arena – e.g. insurance

  • New subsidiary offices in London being established by overseas-owned companies which are already trading with the London international insurance Market
  • Branch offices being contemplated on the same basis
  • Breakaway teams wishing to create their own new business

What do I need to have in place before I can make an application for regulatory authorisation?

fcaThe principal component will be access to a revenue stream of business in your sector, the handling of which obligates you to seek permission to trade.  Everything else will be subsidiary to that basic requirement, however, you will need some plans for who will run it, how it will be structured, what capital you will need (and where you will get that) and what your lead-in costs will be.

Helodrium can help you with set-up and interim operational stages if your own planned staff are not able to take up their roles until after the Regulator has granted at least provisional approval for the firm to perform the requested activities.  Helodrium has been used to populate embryonic firms while they await the release of the individuals who will become the firm’s executives when they have completed their contractual obligations to prior employers.

Can I get help with an application to the Regulator?

Yes, Helodrium can assist you to design your business plan as well as with all elements of the application process.  Helodrium can help you from setting up the company to providing interim directors even after the firm has become operational.  Obtaining help with your application releases you to do what you do best – your own business – and saves on lost opportunity costs.

Why use Helodrium?

Helodrium (and its predecessor firm, DRM Consulting Ltd), have been involved in helping applicants since 2008 and have many successful applications behind them. In at least two cases, this has involved Helodrium providing a near “Turnkey” service in setting up the new firm, incorporating one director provided by Helodrium, handling the entire application process – and sometimes two applications in parallel, (e.g. to The Corporation of Lloyd’s, for the firm to trade on the floor of Lloyd’s, as well as just being authorised to trade in the United Kingdom) – right up to the point when it can be handed over to its new owners and employees as a company that can trade immediately.

Helodrium can offer one other benefit, too.  If the goal of your business was to trade in the London international insurance Market, as an intermediary, Helodrium can handle your interface with the clearing house (currently Xchanging) for all financial transactions between you and other market participants.

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