The Office of Financial Sanctions Enforcement (OFSI) helps ensure that financial sanctions are properly understood, applied and enforced in the United Kingdom. At the moment, OFSI is experiencing high demand to consider applications for new licenses and amendments to existing licenses.
When applying for a specific license or an amendment to an existing specific license, applicants must provide evidence in support of the application and demonstrate that all criteria for the relevant license ground have been met. If there is insufficient information or evidence in an application, the OFSI General Guidelines state that “incomplete applications will not be considered and will be returned to the applicant for resubmission”.
To reduce delays and ensure timely service to all applicants, OFSI will resume the return of applications that were not properly completed at the time of receipt.
An incomplete application is an application that is missing key information, such as an adequate explanation of why the licensing objective applies.
Applicants will be able to reapply; however, it will be treated as a new application and will not have priority just because it has been resubmitted.