We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies. You can view our cookie policy and edit your settings here, or by following the link at the bottom of any page on our site.
Providers of financial services, investment firms and consumer credit companies in the UK have to be authorised by UK Financial Conduct Authority (FCA). The likes of banks, credit unions and insurance companies are all regulated by the FCA and the Bank of England’s Prudential Regulation Authority.
Authorisation definition
Providers of financial services, investment firms and consumer credit companies in the UK have to be authorised by UK Financial Conduct Authority (FCA). The likes of banks, credit unions and insurance companies are all regulated by the FCA and the Bank of England’s Prudential Regulation Authority.
According to the provisions made under the Financial Services and Markets Act (FSMA) 2000, these firms need to secure authorisation from the FCA in order to operate. Securing authorisation tends to take about six months, but can take up to a year. Different types of companies have different application processes in order to secure authorisation.
Once authorised, firms must pay an annual fee and ensure they constantly meet the minimum standards set by regulators. Many choose to appoint another company or individual as an ‘appointed representative’, which takes on full responsibility for ensuring the authorised business is compliant.
IG Smart Portfolios
Invest in an expertly managed portfolio, at a fraction of the cost of traditional wealth managers and independent financial advisors (IFAs), with an IG Smart Portfolio.
The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA, a SIPP or an IG Smart Portfolio can fall as well as rise, which could mean getting back less than you originally put in. Spread bets and CFDs are leveraged products and can result in losses that exceed deposits. Spread betting and CFD trading are not permitted within the IG SIPP. Please ensure you fully understand the risks and take care to manage your exposure.
iShares® and BlackRock® are registered trademarks of BlackRock, Inc. and its affiliates (“BlackRock”) and are used under license. Further, BlackRock, Inc. and its affiliates including, but not limited to, BlackRock Investment Management (UK) Limited, are not affiliated with IG Markets Limited and its affiliates. Accordingly, BlackRock makes no representations or warranties regarding the advisability of investing in any product or service offered by IG Markets Limited or any of its affiliates. BlackRock has no obligation or liability in connection with the operation, marketing, trading or sale of any product or service offered by IG Markets Limited or any of its affiliates.
