Today, the FCA has launched its updated Financial Services Register. The FCA claim the redesign of the Register aims to help consumers protect themselves from harm and will provide a better experience for the Register’s more than 7 million users.
The Register allows anyone to see firms and approved individuals that are involved with regulated activities. It can also help consumers avoid scams, and enables firms to cross-check references and make their key staff known to customers.
The main improvements to the Register are:
- 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; and
- optimisation for some mobile devices.
The FCA intends to publish, later this year, its directory of certified and assessed persons on to the Register.
The FCA is also currently proposing to extend the previous deadline of 9 December 2020 for solo-regulated firms to submit information about Directory Persons to the Register to 31 March 2021.