Related provisions for SUP 6.3.37

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SUP 6.3.35GRP
Under section 55V(1)26 of the Act (Determination of applications), the relevant regulator26 has six months to consider a completed application from the date of receipt.2626
SUP 6.3.36GRP
If the relevant regulator26 receives an application which is incomplete (that is, if information or a document required as part of the application is not provided), section 55V(2)26 of the Act requires the relevant regulator26 to determine that incomplete application within 12 months of the initial receipt of the application.262626
SUP 6.3.36AGRP
26Where the application cannot be determined by the PRA without the consent of the FCA, section 55V(3) of the Act requires that the FCA's decision must also be made within the period required in SUP 6.3.35 G or SUP 6.3.36 G as appropriate.
SUP 6.3.37AGRP
26The FCA publishes standard times on its website setting out how long the application process is expected to take. From time to time, the FCA also publishes its performance against these times.
SUP 6.3.38GRP
At any time after receiving an application and before determining it, the relevant regulator26 may require the applicant to provide additional information or documents. The circumstances of each application will dictate what additional information or procedures are appropriate.26
SUP 6.3.39GRP
A decision to grant an application will be taken by appropriately experienced staff at the relevant regulator.26 However, if the staff dealing with the application recommend that a firm's application for variation of Part 4A permission26 be either refused or granted subject to limitations or requirements or a narrower description of regulated activities than applied for, the decision will be subject to the regulator's formal decision making process.262626262626
SUP 6.4.27GRP
(1) Under section 55V(1)22of the Act (Determination of applications), the relevant regulator22 has six months to consider a completed application.2222(2) If the relevant regulator22 receives an application which is incomplete, that is, where information or a document required as part of the application is not provided, section 55V(2) of the Act requires the relevant regulator22 to determine the incomplete application within 12 months of the initial receipt of the application.2222(3)
SUP 6.4.27AGRP
22The FCA publishes standard response times on its website setting out how long the application process is expected to take in practice. From time to time, the FCA also publishes its performance against these times.