The third phase covers submission of the authorisation application and the
supervisory review that follows. This phase depends entirely on completing the
preceding preparation work to the required standard.
Focus of this phase:
Submission. Filing the application together with the supporting
documentation and evidence.
Supervisory engagement. Responding to questions and requests during the
review, and refining the model where required.
Readiness verification. Confirming that controls, technology and governance
operate as documented.
Status: Planned. This phase has not commenced. Timing depends on readiness
and on the supervisory process, and no outcome can be assumed.