Today saw the launch of the updated Financial Services (FS) Register from the FCA. This is a directory of regulated financial services firms and individuals in the UK as well as firms from the EU that have 'passported' services into the UK.
The Financial Conduct Authority (FCA) has re-designed and updated the register, to help protect consumers from scams and allows firms to cross check references to make their key staff known to customers.
Improvements will also provide a better experience for users with a clearer language and simpler design.
The register allows customers to search and see approved firms and individuals that are involved with regulated activities.
In the past year, the register has had over 7 million unique users. The updated register will include information on past actions taken against firms and individuals, consumer protection optimisation for some mobile devices and important information has been made more prominent.
The FCA intends to publish later this year under the Senior Mangers and Certification Regime (SM&CR) a directory of certified and assessed individuals on their Financial Services Register and have committed to maintaining this accordingly.
The FCA is proposing to extend the deadline for solo-regulated firms to submit information about directory persons to the register to 31st March 2021 from the original stated date of 9th December 2020.
A much needed resource for consumers to check they are dealing with an authorised and regulated firm as well as checking news and information on rogue, cloned and fake firms set up trying to defraud you of your hard earned money.