LicenseCompare

Evidence guide

People and competence evidence for licence applications

How to prepare key-person, representative, responsible officer, SMF, IAR, responsible manager, adviser, and supervisor evidence before a licence application.

Applicant questions

  • - Who will personally perform, supervise, or control each regulated activity?
  • - Which person owns the regulatory, compliance, investment, dealing, advisory, or operational decision?
  • - Does the person have exam, qualification, experience, availability, authority, and regulatory-history evidence?

Why regulators ask

  • - Regulators need comfort that named people can run or supervise the regulated business, not merely lend their CV to an application.
  • - People evidence connects the licence scope to day-to-day accountability, escalation, conflicts management, and client protection.
  • - Weak key-person files often delay applications because the regulator cannot see who will own the regulated work.

What good looks like

  • - A role map links each regulated activity to named people, responsibility, reporting line, and time commitment.
  • - CVs, qualifications, regulatory history, outside roles, and references are consistent with the application narrative.
  • - The firm can explain succession, deputising, supervision, and availability if a key person is absent.

Documents to prepare

  • - CVs and employment history.
  • - Exam, qualification, CPD, or competence evidence.
  • - Role descriptions and authority matrix.
  • - Regulatory history and disciplinary disclosure notes.
  • - Time-commitment and outside-business-interest statements.

Red flags

  • - A senior person appears only in the application but not in the operating model.
  • - The role title is impressive but does not match the requested regulated activity.
  • - Conflicting outside roles make availability or independence unclear.

Build steps

  1. 1. Start with the regulated activity map, then assign named people to each activity.
  2. 2. Collect evidence before writing the application narrative.
  3. 3. Run a key-person readiness check and turn gaps into adviser questions.

Disclaimer

Information on LicenseCompare is for general educational purposes only and does not constitute legal, regulatory, financial, tax, investment, or professional advice. Licensing requirements depend on facts and change over time. Always consult official regulator materials and qualified professional advisers.