Notice periods and licence timing
A licence is applied for by, and tied to, a sponsoring corporation. Leaving ends that accreditation, and the new firm makes a fresh application, so the two dates rarely meet neatly.
The administrative detail that turns a clean job move into an awkward six weeks.
The licence does not travel
It was applied for by your principal and it is tied to them. Resigning does not hand you a portable credential.
The new firm makes its own application. Your examination passes and your experience carry over; the accreditation does not.
Between ceasing at one firm and being accredited at the next you are not licensed, and you cannot carry on a regulated activity. For anyone whose value is client-facing that is dead time, and it is why start dates in licensed roles are negotiated around the application rather than the notice period.
What actually governs the timing
- Your notice period, which is a contract question
- The new firm's internal approval and onboarding, which is often slower than the offer implied
- The SFC application itself, which the firm submits and the SFC processes
- Any conditions the SFC attaches, which can include a period in which to pass a paper
Only the first of those is yours to control.
The conditional approval route
The SFC may approve an application on condition that the individual passes a local regulatory framework paper within six months of the approval.
That grace period, including any extension, is usually granted once for each paper, and failing to pass in the time set may render the approval invalid and cause the licence to lapse. It is a bridge, not a habit.
Practical sequencing
- Tell the new firm your notice period before you accept, because their application planning depends on it
- Ask who submits the application and when they intend to
- Confirm whether the role needs a regulated activity type you do not currently hold
- If it does, and you need a paper, find that out during the offer rather than after
The register shows the join
The public register reflects your current accreditation. Anyone checking during the gap sees the gap, which is normal and worth knowing before it surprises you.
Common questions
Does my SFC licence move with me to a new firm?
No. It is tied to the sponsoring corporation and the new firm makes a fresh application.
Am I licensed during the gap?
No, and you cannot carry on a regulated activity in it.
What controls the timing?
Your notice period, the new firm's onboarding, the SFC application, and any conditions attached.
What is conditional approval?
The SFC may approve on condition that a paper is passed within six months, usually granted once per paper.
What happens if I miss that deadline?
The approval may become invalid and the licence may lapse unless an extension is granted.