Compliant Solutions Limited

21 Jul, 2013

FCA and Applications for Authorisation

<p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">Dear [&nbsp;&nbsp; ]</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">&nbsp;</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">We are writing to update you on your application, following on from our acknowledgement receipt [date].</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">&nbsp;</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">Your application is currently waiting to be assigned a Case Officer.&nbsp; You will be contacted when a Case Officer has been allocated, which we expect to be within the next [X] weeks.</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">&nbsp;</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">Once allocated we will seek to progress your application as quickly as possible.&nbsp; We are not able to do this when core information is missing or incomplete.&nbsp; Therefore, please ensure that you have provided all the documents we have requested on the relevant forms to enable us to carry out a full and fair assessment of your application. Examples of these are (but not limited to):</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">&nbsp;</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">All Firms</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evidence of Incorporation</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dedicated offices</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial forecasts for the first 12 months</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Controller Forms that relate to an application</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form As for any individual applying for a controlled function</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank statements or Accounts (where necessary)</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;Relevant Disclosures</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">&nbsp;</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">Retail Firms</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PII quote</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; References and an indication of the likely timing of Appointed Representative termination</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An updated copy of the individuals Statement of Professional Standards (SPS)</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">&nbsp;</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">Wholesale Firms</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Management Agreements</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prospectus</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any third party agreements</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">?&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terms of Business documents</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">&nbsp;</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">&nbsp;</span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <i><span style="font-size: 10pt; font-family: Verdana, sans-serif;">If you have any enquiries relating to your applications please contact the Permissions Team at&nbsp;<a href="mailto:Authorisation@fca.org.uk" style="color: rgb(17, 85, 204);" target="_blank">Authorisation@fca.org.uk</a></span></i></p> <p class="MsoNormal" style="margin: 0px; color: rgb(34, 34, 34); font-family: arial, sans-serif; font-size: 13px; background-color: rgb(255, 255, 255);"> <span style="font-size: 11pt; font-family: Calibri, sans-serif; color: rgb(31, 73, 125);">&nbsp;</span></p>