RE: No logic22 Nov 2023 12:32
6 months is the usual length of time for support under Innovation Pathways. I quote from the FCA official document at :
https://www.fca.org.uk/publication/fca/fca-innovation-pathways-guide.pdf
Which says this :
"You complete our application form, taking care to explain what you’re doing, how you meet
our criteria, and what you need our support with.
• On receipt, your request will be assigned to a case handler. They will review the information
you’ve provided and consider whether your firm is eligible. This may involve carrying out
desk-based research or discussing the model with expert colleagues. If any additional
information or clarification is needed, the case handler will get in touch with you.
• Once the case handler has considered the case, they will make a recommendation to either
support or reject your request. This will then be discussed at a fortnightly eligibility panel,
attended by senior FCA colleagues, including our Policy and Supervision teams, and other
relevant areas.
• You will be told the panel’s decision within 4 weeks of submitting your application. If you’re
unsuccessful, you’re free to reapply again in the future. The decision won’t affect your ability
to apply for authorisation.
• If your firm is eligible for support, then the support period generally lasts for 6 months.
This can be extended if you have a good justification for doing so".