Landing slots for firms in the TPR

Find out what to do when you’ve received your landing slot to apply for full authorisation in the UK.

The information on this page was only applicable to firms in the TPR that previously passported into the UK under Schedule 3 or Schedule 4 to FSMA. This information was not applicable to payments institutions, registered account information service providers and electronic money institutions in the TPR that previously passported into the UK.

All firms in the TPR that we were expecting to apply for full authorisation in the UK would have received a formal direction confirming their ‘landing slot’.

This was the period when firms could apply:

for full (non-temporary) Part 4A permission
to vary an existing Part 4A permission if a firm had a UK top-up permission

If we were not expecting your firm to apply for full authorisation in the UK, you may not have received a landing slot direction. If a firm did intend to apply for full UK authorisation and would be solo-regulated by us but did not receive a landing slot direction, it could still apply but any application must have been received by us before the end of 31 December 2022.

Opening and closing dates

The direction firms were sent specified dates when the firm must submit its application for either type of permission above. This could be no earlier than the opening date and no later than the closing date.

If you submitted your application before your opening date

In line with our direction[1], it may have been disregarded and destroyed.

If you didn’t submit an application before your closing date

We could cancel your firm’s temporary permission.

In this situation, we will have served your firm a decision notice stating the date the firm’s temporary permission ended. If your firm was eligible, it will have moved into the Financial Services Contracts Regime[2].

We could also decide that a firm is not to enter FSCR. Here, the firm’s temporary permission will have come to an end with the decision notice and the firm would no longer be permitted to carry on a regulated activity in the UK (unless an exclusion applies).

Submitting an application

You’ll need to have submitted an application using our Connect system.

Before submitting you should first read:

You could also choose not to submit an application, and to cancel your firm’s temporary permission instead. If your firm did this and it required permission to perform existing contracts, it will have moved into the FSCR.
Find out more about cancelling a temporary permission.

Frequently asked questions

If my firm submitted an application, when does its temporary permission end?

If we approve your application, your firm’s temporary permission will come to an end at the end of the day before the date stated in the written notice we issue granting permission.

As part of your application process, you must make sure your firm is ready, willing and organised to comply with the rules and other provisions that apply to an authorised firm in the UK from that date.

If we refuse your application, your firm’s temporary permission will come to an end at the end of the day before the date stated in the decision notice we send. However, your firm may be allowed to enter FSCR so that it can conduct an orderly exit from the UK market.

How did we allocate opening/closing dates for firms?

We did this largely by reference to the main type of business firms selected when submitting their notification to enter the TPR.

Where many firms of a particular type submitted notifications, we will have split these firms into sub-groups with different opening/closing dates.

We could have changed any firm’s opening or closing date at our discretion, for example to align the dates of a group of firms. If we did this, we will have given your firm as much notice as we could.

Temporary permissions regime[5]

Brexit

05/01/2023 : Information changed Updated for end of 2022

19/10/2022 : Editorial amendment Editorial amendment to page

12/08/2022 : Information added regarding landing slot direction

26/10/2021 : Information changed Information on changing your firm's landing slot

First published: 03/03/2021 Last updated: 02/01/2024 See all updates