Authorisation requirements for banks
Banks must meet a number of licensing requirements to obtain authorisation from SFMA.
This SFMA page gives applicants and supervised institutions a practical view of the authorisation requirements for banks topic. It explains when a licence, approval, notification or registration may be needed, what information should be prepared, and which changes may require contact with the authority.
Licensing requirements
The review focuses on whether the applicant is organised in a way that is suitable for authorisation requirements for banks within the First-time licensing of banks and securities firms area. SFMA will normally look at governance, financial resources, responsible persons, risk controls, compliance arrangements, auditability, outsourcing and whether the planned activity can be carried out without creating avoidable risks for clients, investors, policyholders or market integrity.
Duration of the process
Applications should be submitted with the current forms, declarations and supporting documents required for the activity. A complete file usually shortens the review because the authority can assess the business model, responsible persons, financial position, internal rules and legal basis without repeated follow-up questions.
Contact for questions on the licensing process
The review focuses on whether the applicant is organised in a way that is suitable for authorisation requirements for banks within the First-time licensing of banks and securities firms area. SFMA will normally look at governance, financial resources, responsible persons, risk controls, compliance arrangements, auditability, outsourcing and whether the planned activity can be carried out without creating avoidable risks for clients, investors, policyholders or market integrity.
Information and templates
Applications should be submitted with the current forms, declarations and supporting documents required for the activity. A complete file usually shortens the review because the authority can assess the business model, responsible persons, financial position, internal rules and legal basis without repeated follow-up questions.
Preparing a complete file
Applicants should keep the submission concise but complete: describe the activity, legal structure, people responsible, control framework, financial resources, relevant documents and any cross-border elements. Where uncertainty remains, the issue should be highlighted early rather than left to emerge during review.