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New FCA directory to make advisers’ histories searchable

Light-bulb-innovation-idea-700x450.jpgAdvisers will be included in a new directory proposed by the FCA aimed at helping consumers and other firms check the status and history of people working in financial services.

The directory would include people who hold “senior manager” roles that, under the new Senior Managers Regime, would need FCA approval and also people whose jobs require firms to certify they are “fit and proper”. The FCA says this would include advisers.

The regulator says the directory will include more information about people working in financial services than is currently available and the proposal is based on feedback from consumers and firms.

FCA reveals costs of extending Senior Managers Regime

FCA retail and authorisations supervision executive director Jonathan Davidson says: “Today’s publications are all about making sure that consumers can interact confidently with financial services professionals by setting clear standards for the behaviour of those individuals, and making available information about their fitness and propriety.”

The regulator today also published “near final” rules on the extension of the Senior Managers and Certification Regime to almost all regulated firms.

Davidson says: “The [regime] sets clear standards for the conduct that consumers and regulators expect from all financial services staff. These standards of behaviour are central to the FCA’s priority of promoting healthy cultures in firms.”


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FCA warns of fraudulent Alliance Trust Savings clone

The FCA is warning investors about a scam firm pretending to be platform Alliance Trust Savings. The clone firm has been operating under the name Alliance Trust and is using the same address as the authorised firm. According to the FCA, it has been using a false website and email. The FCA warns that scammers […]


Standard Life advice arm takes robo-advice plans to FCA trial

Standard Life’s advice arm 1825 has approached the FCA again to begin trialling a robo-advice proposition. In the wake of the Financial Advice Market Review in 2016, the FCA set up a dedicated advice unit to assist firms looking to use technology to bring automated advice services or discretionary investment models to market, potentially making […]

FCA consults further on pension transfer advice

Robin Nimmo, Strategic Insight Manager at Royal London, considers the latest FCA consultation paper on pension transfer advice. On Monday 26 March the FCA published CP18/7, a further consultation on improving the quality of pension transfer advice, alongside its much awaited response PS18/6 to the previous consultation Advising on Pension Transfers. Let’s look at what is contained in this latest […]

Get your New Year off to a flying start

Ross Jackson, Senior Marketing Manager There’s no denying that these days we expect things quickly. You might have noticed it first-hand during the flurry and rush of the Christmas period. The fact is that in a world of smartphones, social media and click and collect, most clients expect to get an instant response and a […]


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. David Cathcart 4th July 2018 at 11:21 am

    Are the personal details of all the senior bank officials being included – dream on

  2. I have to wonder if this does not breach GDPR rules in these sensitive days of data security.

    Who is to say, this data will not be used by fraudsters for sinister reasons!

  3. John Stirling 4th July 2018 at 4:10 pm

    So the current FSA register provides a reasonable level of personal information, and history, and includes the details for senior banking officials (along with the rest of us).

    What in addition is proposed? I’d be very happy with qualifications, and any other data generally in the public domain.

    But perhaps not my home address, or which way I vote.

    The current proposals seem reasonably proporitionate – what is the problem?

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