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    FCA Authorisation Application Assistance

    Welcome to Sterling Law – Your Partner in Navigating FCA Authorisation

    We specialise in helping businesses successfully obtain regulatory authorisation from the Financial Conduct Authority (FCA) to operate as a Small Electronic Money Institution (SEMI) or Authorised Electronic Money Institution (AEMI) in the UK.

    Our Expertise

    We offer end-to-end support tailored to your specific business needs, ensuring compliance with all FCA requirements, including:

    • Eligibility Assessments: Ensuring your business model meets the regulatory criteria.
    • Documentation Preparation: Drafting and reviewing your business plan, safeguarding measures, governance arrangements, and policies.
    • Regulatory Submission: Compiling and submitting your application via the FCA’s Connect system.
    • Post-Submission Support: Addressing FCA queries and requests for additional information.

    What You Need for an Application?

    For Both SEMI and AEMI Applications:

    • A detailed business plan and programme of operations.
    • Robust governance arrangements and risk management procedures.
    • Compliance with money laundering regulations (MLRs).
    • Adequate initial capital and safeguarding mechanisms for client funds.
    • Registration of directors, management, and anyone with a qualifying holding in your firm.

    Key Differences

    • SEMI: Limited to issuing e-money with average outstanding e-money under €5m and restricted payment services (no AIS/PIS).
    • AEMI: No such limits; allows broader services and access to EU markets under passporting.

    Our Fees

    Our services are designed to provide comprehensive legal support while ensuring transparency in costs:

    Service Fee Hours Included
    SEMI Application £15,000 + VAT Up to 32 hours
    AEMI Application £17,000 + VAT Up to 32 hours
    • Additional Hours: Charged at £270/hour + VAT.
    • Disbursements: Any third-party fees (e.g., translations, AML checks) will be charged separately.

    Why Choose Us?

    • Specialised Knowledge: Extensive experience in handling FCA authorisations.
    • Tailored Approach: We customise our support to fit your unique business model and goals.
    • Efficiency: We ensure your application process is streamlined, saving you time and resources.

    Next Steps

    1. Consultation: Discuss your business model and assess eligibility.
    2. Preparation: Draft all necessary documentation and policies.
    3. Submission: Complete and submit your FCA application.
    4. Support: Assist with post-submission queries and additional requirements.

     

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