Feature Update - FPA - Add a new business

Feature update: New frequently performed action – adding a business

Our latest update brings with it a new way to quickly and easily add new businesses to Corterum, using our newest addition to our “frequently performed action” functionality.

Frequently performed actions are pieces of functionality within Corterum that we’ve converted into easy-to-follow wizards, allowing you to perform tasks in a standardised manner. 

The process of adding a business within Corterum can be a lengthy one, especially if you manage multiple businesses within your Corterum instance.

With that in mind, we’ve created a new frequently performed action to streamline this process:

Our new method of adding business entities to Corterum is also great if you want to add Appointed Representative firms to your Corterum instance. While Appointed Representative firms are not, strictly speaking, subject to the SM&CR, we know that some firms like to treat them the same way as directly authorised firms.

You’ll find the new functionality in the “frequently performed actions” tab within the workbench next time you log in as an administrator.


Adding a new business

The first time you open the menu to add a new business, you’ll see a number of different options, separated by tabs. Let’s take a quick look through the process of adding a new business using the new frequently performed action:

Business Details

This tab will allow you to set the name of the business as well as toggle whether or not the business is a third party.

General Details

Here you can store any previous business names, company number, FCA/PRA numbers, the nature of the business and business classification.

Regulatory Details

In this tab you can toggle whether your firm is regulated, the entity that regulates it, add MiFID/IMD information, and add the address details of the regulator(s).

Link to Company

Finally, you can choose to either:

  • Link the business to an existing company within your Corterum instance.
  • Create a new company that links to this business.
  • Do not link to a company.

Want to learn more about how Corterum can help you manage all of firms you oversee, as well as the ways in which the platform can help your SM&CR regulated firm? Get in touch with us below!