Changes Requiring Authority Approval

Purpose of This Guidance

This document sets out the types of changes that require notification or prior approval from the Authority. It is intended to support licensees in maintaining accurate register information and operating within authorised scope.

General Principle

A license is granted on the basis of specific facts, representations, and conditions. Where those facts change, the Authority must be informed so that the impact on authorisation can be assessed.

Changes Requiring Prior Approval

The following changes generally require prior approval before taking effect:

• Changes in ownership or control, including beneficial ownership
• Appointment or removal of directors or senior management
• Addition of new regulated activities or services
• Material changes to the business model or operational structure
• Removal or alteration of license conditions or limitations

Changes Requiring Notification

The following changes must be notified to the Authority within a reasonable timeframe:

• Change of registered office or principal place of business
• Updates to contact details or official communication channels
• Changes to branding, trading names, or public representations
• Outsourcing or material third-party arrangements
• Changes to policies or internal procedures affecting compliance

Assessing Materiality

Whether a change is material depends on its impact on authorised activities, risk profile, or representations made to clients and counterparties. When in doubt, licensees are expected to notify the Authority.

Register Updates

Approved or notified changes may require updates to the public register. Licensees should ensure that register information accurately reflects their current status and authorised activities at all times.

Conclusion

Timely notification and approval of changes supports transparency and protects the integrity of the licensing framework. Licensees are expected to engage proactively with the Authority when their circumstances change.