Find out what financial information to include before you submit an application to be authorised by us, or registered with us.
Regardless of the size and legal status of your firm, you must have financial forecasts in place before we can assess your application. If your firm is already incorporated and in business, we also need to see historical accounts.
Alongside the information below, make sure you consult the page relevant to your type of firm or business model. You can find this on the authorisation homepage[1].
Your sector-specific page has important information to support your application, including what forms you need to complete and any requirements for your sector.
What to include
All the information you provide must be in English and should be customised in line with your own business, its legal structure and the relevant practices in your sector.
Here are the minimum things we expect to see. Note that your case officer may ask for additional information if they feel an area requires additional scrutiny.
| 3 sets of accounts | Financial information should cover: income statement, balance sheet and cash flow statement. |
|---|---|
| Historical financial statements | We need these if your firm is already incorporated and in business – 3 years of accounts is best practice. |
| Forward-looking financial projections | 3 years of forecasts in Excel format is best practice. We'll accept monthly and yearly projections. Watch out for errors when you prepare your forward-looking statement, such as balance sheets not balancing or opening and closing accounts not matching across different years. |
| Accompanying notes and key assumptions | Share notes to your accounts and key assumptions supporting your forward-looking business plan, so that we can make sense of the information – for example, your management information, board pack etc. |
| Quantified prudential regime | If your firm is subject to a quantified prudential regime (as specified in our Handbook[2]), include relevant material such as details of share capital, term sheets for capital enhancing instruments etc. We need to verify that the quantity and quality of the instruments proposed meet our prudential requirements. |
| Aligning with your legal entity | Financial information must be fully aligned with the legal entity seeking authorisation – we won't accept information that only represents a portion of the legal entity. |
| Financial Data Template | Use our sector-specific templates below to make sure your firm sends us the right data. The templates are designed to collect baseline financial information. Use the ‘Guidance & Glossary’ tab in each spreadsheet for help to fill out the template. Attach the completed Excel file when you submit your application. For other areas not included in the template, firms can submit relevant information using your own format, such as information on:
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Templates for financial data
Wholesale firms and certain consumer investment firms
Use this spreadsheet if you are:
- a wholesale firm (buyside, sellside and wholesale service providers)
- one of the following consumer investment firms:
- wealth and stockbroking firm
- investment platform
- self-invested personal pension (SIPP) operator
- crowdfunder
Download our Financial Data Template for wholesale and consumer investment firms (xlsx)[3].
Financial advisers
Payments, e-money and cryptoasset firms
Mortgage brokers
All other firms
Download our Financial Data Template for retail firms (xlsx)[7].
Use the 'Guidance & Glossary' tab to determine which template is relevant to your business type, based on its size and legal status.
Why we need this information
We expect applicants to demonstrate that they're ready, willing and organised[8]. Providing high quality, complete financial information is a key part of this. It helps us assess your application faster, uncover complex issues earlier and means we don't have to chase you for missing information.
We also expect you to assess your firm's financial resources and ensure they're proportionate to the risk of harm and complexity of your business. This is an important part of meeting our threshold conditions.
To help us understand whether you have the appropriate financial resources to manage any risks effectively, we'll consider:
- Whether your firm has enough assets to cover its debts and liabilities, and
- Your firm's profitability, capital, and liquidity position.
