FSA releases pack for firms changing their legal status

Now called The change of legal status application pack, it is considerably shorter than the former pack and is presented in a new format: a core form, for all applicants to complete, with appendices for completion where necessary.

The FSA has widened the scope of the pack and made other changes to allow more firms to use it. The revised application form can now be used by the following applicants who fulfil the qualification criteria:

- personal investment firms;

- mortgage intermediaries (new);

- insurance intermediaries (new);

- securities and futures firms;

- investment management firms;

- professional firms (new);

- media firms (new).

The FSA says this application pack will save those applicants, who were previously excluded and would have had to complete the standard pack, time and money and its design improvements will also help all applicants.