LONDON, Jun 15, 2021--(BUSINESS WIRE)--Complyport a compliance and regulatory consultancy today responding to the Prudential Regulation Authority (PRA) update on the authorisation under the Temporary Permissions Regime (TPR), relevant to European Economic Area (EEA), has warned firms to ensure applications are "right first time".
Jonathan Greenstein Associate Director of Complyport said:
"The PRA’s statement extending the time period for processing authorisation applications from EEA banks and insurers highlights the large number of firms seeking authorisation – a trend we have also seen with FCA applications. This is a very positive sign for the UK's financial services sector. However, it also highlights the importance of submitting comprehensive ‘right first time’ applications making it easy for the regulators to approve applications without further delay - something that Complyport has been doing for 20 years now for over 1000 successful authorisations."
Notes to Editors:
Complyport is a market leading compliance and regulatory consultancy that has been providing bespoke, practical solutions for all manner of regulated firms both in the UK and overseas for 20 years. Their specialist compliance services expertise can either sit alongside firms’ current compliance teams or, for an independent solution, Complyport can bring their team in-house. Complyport has assisted over 1000 firms with direct authorisation with the FCA and currently supports over 600 firms with their on-going compliance requirements.
Established in 2001, Complyport’s team combines former regulators, industry practitioners and legally qualified individuals to offer clients an unparalleled, professional team.
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