After submission
A regulator reviews the application and normally comes back with information requests. Receiving them is not a sign of failure; it is how assessment works.
What matters is whether responses are consistent with what was already submitted, evidenced, and delivered inside the window the regulator sets.
How the platform represents it
Each request appears as a tracked item with an owner and a due date, not as an email thread. Every state the regulator puts the application in is shown as it is recorded — including a refusal, which opens a remediation path rather than ending the record.
Related reading
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When moving money requires a licence
The perimeter question comes before the application question. This explains the distinctions regulators actually draw.