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FCA improves Financial Services Register for consumer protection



The UK Financial Conduct Authority (FCA) launched its updated Financial Services (FS) Register which includes a simpler design and clearer language.

The updates aim to help consumers protect themselves and will provide a better experience for the Register’s users.

The FS Register has over 7 million users in the past year. It is an essential service for anyone who wants to see firms and approved individuals that are involved with regulated activities. It helps consumers avoid scam and allows firms to cross-check references and make their key staff known to customers.

The updated Register has also been tested with users to ensure it is easy to use and understand.

The basic improvements 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 made more prominent, including past actions against individuals and firms, and consumer protections
  • optimisation for some mobile devices

The Authority will review and update the FS Register on an ongoing basis, to ensure it meets the needs of users.

FCA announces improved Financial Services Register for consumer protection

Jonathan Davidson, Executive Director of Supervision, Retail and Authorisations, said:

Jonathan Davidson, FCA
Jonathan Davidson

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 Senior Managers and Certification Regime (SM&CR) requires FCA to publish and maintain a directory of certified and assessed persons on the Financial Services Register. The FCA already announced a delay to this but intends to publish it later this year. The deadline for solo-regulated firms to submit information about Directory Persons to the Register was also proposed to be postponed to 31 March 2021.

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FCA improves Financial Services Register for consumer protection

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