Licensing and authorisation requirements

Some changes concerning the licence granted to a bank, securities firm or branch of a foreign bank or securities firm are subject to prior licensing or authorisation requirements.

This SFMA page gives applicants and supervised institutions a practical view of the licensing and authorisation requirements topic. It explains when a licence, approval, notification or registration may be needed, what information should be prepared, and which changes may require contact with the authority.

Regulatory focus

The review focuses on whether the applicant is organised in a way that is suitable for licensing and authorisation requirements within the Changes to licences for banks and securities firms area. SFMA will normally look at governance, financial resources, responsible persons, risk controls, compliance arrangements, auditability, outsourcing and whether the planned activity can be carried out without creating avoidable risks for clients, investors, policyholders or market integrity.

Ongoing duties

Material changes should be assessed before implementation. Changes in ownership, management, organisation, business activity, documents, outsourcing, risk models or the decision to stop a licensed activity can require prior approval or notification. Applicants and licence holders should keep the authorisation basis aligned with their actual operating model.

Preparing a complete file

Applicants should keep the submission concise but complete: describe the activity, legal structure, people responsible, control framework, financial resources, relevant documents and any cross-border elements. Where uncertainty remains, the issue should be highlighted early rather than left to emerge during review.