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FSA to launch online application system

The FSA is launching a web-based system, ONA, that will allow firms to submit regulatory applications and notifications online and will replace the existing paper-based process.

ONA, to launch this winter, will handle applications for approved persons, appointed representatives, variations of permissions, passports, cancellations, waivers and standing data.

The FSA is currently testing the new system and says it will issue further communications confirming the launch date over the coming weeks, as well as details on how to register and use the new system.

Firms will have to identify a principal user who will be responsible for using the system.

The FSA says: “ONA has been designed to improve the application process. Applications will be tailored to your permissions and the questions you answer when you complete the online forms. Once you’ve applied, the system will send your firm an email confirming we have received the application. You will also be able to save draft applications.”

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