Authorization | FCIC

Before conducting regulated financial activities, firms must obtain authorization from FCIC. The authorization process ensures that firms meet the required standards to operate safely and responsibly.

Authorization Process

Pre-Application

Initial consultation with FCIC to discuss the proposed business model and regulatory requirements.

Application Submission

Submit a comprehensive application with required documentation and fees.

Assessment

FCIC reviews the application against regulatory criteria and may request additional information.

Decision

FCIC issues an authorization decision, which may include conditions.

Ongoing Compliance

Authorized firms must maintain compliance with all regulatory requirements.

Authorization Requirements

Adequate financial resources and capital
Fit and proper management and control functions
Appropriate systems and controls
Effective compliance arrangements
Adequate business continuity planning
Compliance with AML/CFT requirements

Regulated Activities

Authorization is required for firms conducting the following regulated activities:

Dealing in investments
Arranging deals in investments
Managing investments
Advising on investments
Providing custody services
Operating a trading venue

Contact: For questions about the authorization process, please contact the Authorization Team at authorization@fcic.org.