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FCA updates financial services register

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  • 27/07/2020
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FCA updates financial services register
The Financial Conduct Authority (FCA) has relaunched its financial services register after overhauling the site to improve its language and design.

 

The register helps consumers to confirm the authenticity and contact details of regulated financial services firms.

The FCA said it had tested the new look site with consumers and other users to ensure it was easier to use and understand.

Key enhancements include:

  • a clearer navigation and design
  • simpler language
  • more information on the register’s purpose, how to use it and how to avoid scams
  • important information being made more prominent, including past actions against individuals and firms, and consumer protections

 

The regulator is in the middle of updating the register to include a directory of certified and assessed persons as part of the introduction of the Senior Managers and Certification Regime, which it intends to publish later this year.

The FCA is also planning to extend the deadline for solo-regulated firms to submit information about directory persons to the register to 31 March 2021.

 

Avoid scams

“The redesign aims to help consumers protect themselves from harm and will provide a better experience for the register’s users,” the FCA said.

“It can help consumers avoid scams and enables firms to cross-check references and make their key staff known to customers.”

Jonathan Davidson, executive director of supervision – retail and authorisations, added: “The financial services register is an important tool for both the consumers and firms who use it.

“These changes will make it easier for users to navigate and understand the register, and in doing so, help them avoid financial harm such as scams by unauthorised firms and individuals.”

The register is available at: https://register.fca.org.uk/s/

 

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