The application process has become quite a procedure, as has applying for changes to an existing licence. Moonstone has a vastly experienced team to help you overcome the hurdles and hassles normally associated with these processes.
Every licence application has its own unique challenges. At Moonstone, our involvement with the application process, since its inception in 2004, has equipped us to deal with these applications quickly and efficiently.
Our value add to you is to facilitate the application on your behalf. Our understanding and experience of the processes and pitfalls will help you to avoid unnecessary delays, helping you get your business up and running much faster.
There are two phases in every process:
- The first is an Internal phasewhere Moonstone establishes your requirements and gathers the necessary information to complete your application. The duration of this process depends on how promptly you respond to requests for information from us. Once our experienced analysts are satisfied that your application meets all the requirements, it is submitted electronically to the FSB on your behalf.
- The External phase concerns the consideration of your application by the FSB. There is an official 8 to 10 week turnaround time to allow the FSB to decide on the outcome of the application. During this period, it’s not uncommon for the FSB to contact you directly for further information. Our experience, having been involved in this for nearly ten years, can go a long way to reduce the turnaround time. Moonstone will gladly assist where we can to satisfy FSB queries as promptly as possible.
The need to change certain details on your FSP license will apply to all FSPs at some time in their lifecycle. The importance of having your details up-to-date is vital as transgressions could lead to severe penalties and even suspension or debarment.
The changes applicable can range from a FSP name change to adding or removing a Key Individual. Most of these changes need to be effected as speedily as possible for you to continue doing business.
Each change involves a formal process of paperwork, official documentation and fees. Our expertise cut out unnecessary delays, helping you back into business much sooner.