A thorough and comprehensive Regulatory Business Plan (RBP) is crucial for any applicant or existing FCA authorised firm seeking a Variation of Permission (VOP), as it demonstrates a clear understanding of the proposed business model, associated risks, governance structure, and regulatory obligations.
The FCA expects firms to evidence how they will meet Threshold Conditions on an ongoing basis, and a robust RBP provides assurance that the firm is adequately capitalised, competently managed, and fully aligned with regulatory expectations. It also helps the FCA assess the firm’s strategic intent, financial resilience, operational capability, and commitment to treating customers fairly under the Consumer Duty.
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