FCA Authorisation: A Guide for Law Firms
How RCU supports law firms through the FCA authorisation process, from regulatory business plans to Connect portal submission.
Written by RCU Team
Published on 01/03/2026
The FCA Authorisation Challenge
For law firms whose activities extend beyond the scope of SRA regulation, Financial Conduct Authority (FCA) authorisation is a significant but necessary step. The process is detailed, the requirements are exacting, and the timeline is typically between 6 and 12 months from initial application to approval. Getting it right first time matters, because delays and rejections carry real costs, both financial and reputational.
RCU provides practical, hands-on support to guide law firms through every stage of the FCA authorisation process, from initial assessment through to approval.
When You Need FCA Authorisation
Some law firms carry out activities that fall under the regulatory remit of the Financial Conduct Authority (FCA) as well as the SRA. This typically applies to firms involved in insurance mediation, consumer credit, claims management, or certain investment activities that go beyond the scope of SRA regulation.
The FCA Authorisation Process
FCA authorisation is a substantial undertaking, typically taking between 6 and 12 months from initial application to approval. The FCA’s requirements are detailed and exacting, and the application process is significantly more involved than SRA authorisation.
What RCU Provides
- Regulatory business plan: Preparing a business plan that meets FCA requirements, demonstrating your understanding of the regulated activities you intend to carry out, the risks involved, and how you will manage them.
- Supporting documentation: Assembling the extensive documentation required by the FCA, including organisational charts, governance frameworks, compliance procedures, and financial information.
- Compliance recruitment guidance: Advising on the compliance expertise you need within the firm to satisfy FCA requirements, whether through recruitment or outsourcing.
- Financial modelling: Preparing financial projections that demonstrate the firm’s ability to meet FCA capital adequacy requirements.
- Connect portal guidance: The FCA’s online application portal (Connect) has its own complexities. We guide you through the portal, ensuring your application is submitted correctly and supporting information is uploaded in the right format.
Getting Started
Whether you need FCA authorisation for the first time or guidance on maintaining your existing authorisation, the first step is a conversation about your firm’s specific situation and needs.
RCU’s compliance team works with firms of all sizes across England and Wales. Contact us to discuss how we can support your practice.