FCA publishes User Guide in relation to applications and notifications for UK Authorised Funds

On 22 October 2026, the Financial Conduct Authority (FCA) published a user guide in relation to applications and notifications for UK Authorised Funds.

Background

The FCA sets out that this guide is suitable for the following applications:

• Applying for a new scheme to be authorised in the UK – including Authorised Contractual Schemes, Authorised Unit Trusts, or Investment Companies with Variable Capital.
• Requesting approval to change an existing authorised fund.
• Notifying the FCA of an approved change that has been made to a fund (Form FN).

Summary

The FCA provides guidance on the following aspects of the application process, in particular:

• Logging into Connect: Users must log into Connect via My FCA and have the appropriate permissions to access authorised fund applications. If access is unavailable, users should contact their firm’s Principal User or Administrator. Form FN submissions require the fund alteration application permission set. The FCA recommends using Google Chrome, avoiding multiple tabs for the same application, and saving and closing applications before transferring them to another user for review or submission.

• Locating the Form: The new authorised fund application forms will only become available in Connect from 2 November 2026. Users start from the Home Screen by selecting Start an Application, choosing the relevant firm, navigating through Fund Authorisations, and launching the required application. After reviewing introductory information and responsibilities, applicants can proceed to the appropriate application journey.

• Application Types Explained: Applicants must choose the application type that matches their objective:

• Apply for a new scheme to be authorised in the UK for new funds.
• Request approval to change a fund for amendments or terminations.
• Notify the FCA of an approved change that has been made to a fund (Form FN) to confirm implementation of a previously approved change.

Each application has specific document requirements. Applicants should save regularly to avoid losing progress due to inactivity timeouts.

• Example Process Walkthrough: The FCA provides an example walkthrough using a new fund application, applicants select the appropriate fund and regulatory fund type, indicate whether it is an umbrella scheme, and download the relevant application form. Fund selections cannot be altered after submission, so accuracy is important. Applicants complete the downloaded form offline, then return to upload it and any supporting documents. Progress is displayed against each task, and all sections must be completed before submission.

• Download the Form: Applicants download the relevant form, save it locally, complete it offline, and then upload it back into Connect. Applications can be saved and revisited later using the application reference number.

• Upload Documents and Submit: Completed forms and supporting documents must be uploaded in acceptable formats using prescribed naming conventions. Duplicate file names are not permitted. Once all documents are uploaded, applicants review the submission, complete the declaration, and submit the application. The status changes from Draft to Submitted, and users can view the application and submission details within Connect.

• Frequently Asked Questions: Common issues include login difficulties, application errors, missing confirmation emails, deleted draft applications and unsaved progress. The FCA also provides contact details for firms experiencing issues.