Of all the documents in an FCA application, the regulatory business plan does the most work. It's where the FCA judges whether you actually understand your business and the rules you'll operate under. Here's what it should contain — and the mistake that gets plans rejected.
What the regulatory business plan is
The regulatory business plan (often shortened to RBP) is a clear description of your business and how it will operate compliantly. It's the document that ties the whole application together — your policies, your forecasts and your governance all hang off it. Get it right and the rest of the application makes sense; get it wrong and the FCA starts asking questions.
What the FCA expects it to cover
For a consumer credit application, the FCA generally expects the plan to address:
- The nature and scale of your activities — what your business does, how big it is, how many sites and staff;
- The customer journey — how a customer comes to take finance through you, from first contact to agreement;
- Your financials and forecasts — supported by accounts or realistic projections;
- The key risks to customers and how you mitigate them — honest, specific risk assessment;
- Your governance — who is responsible, including the senior manager holding the relevant function;
- Your systems and controls — including how you'll monitor that you're following the rules.
Why generic, templated plans get rejected
The single biggest mistake is submitting a plan full of generic wording that could describe any business. The FCA explicitly looks for substance specific to your firm — it wants evidence that you understand your risks and operations. A concise plan that's genuinely specific beats a long one stuffed with boilerplate every time, and generic plans are a common cause of delay or refusal.
It has to be consistent with everything else
Your plan must line up with your policies and your financial forecasts. Inconsistencies between documents — different figures, contradictory descriptions — are one of the most common reasons the FCA comes back with queries, which slows everything down.
You don't have to write it from a blank page. Our application pack gives you a structured regulatory business plan tailored to your business, with the sections the FCA expects already laid out — so you add your specific detail rather than guessing the format. It still needs your real information, and sign-off, but it removes the hardest part: knowing what good looks like.
To see how the plan fits the wider process, read our step-by-step guide to getting authorised, or DIY vs using a service if you're deciding how to prepare it.
Frequently asked questions
- What is a regulatory business plan?
It's the central document in an FCA application — a clear description of your business, your activities, your customer journey, finances, risks, governance and controls, showing the FCA you can operate compliantly.
- Why does the FCA reject generic business plans?
Because it looks for substance specific to your firm. A plan built from a template with generic wording suggests you haven't thought through your own risks and operations, which invites questions or refusal.
- How long should the business plan be?
As long as it needs to be to cover the required areas with genuine, firm-specific detail. Concise and specific is better than long and generic — length isn't what the FCA is grading.
- Do you write the business plan for me?
We provide a structured plan tailored to your business with the sections the FCA expects, so you add your specific detail rather than starting from scratch. It should still be completed with your real information and reviewed before submission.
This article is general information to help you understand the process, and is not legal or regulatory advice. CreditLicence is a regulatory consultancy; it is not authorised or regulated by the Financial Conduct Authority, nothing it provides is regulated advice, and it is not affiliated with, endorsed by, or acting on behalf of the FCA. FCA rules can change; always check the FCA's website for the current position.