View more on these topics

FCA register puts ‘integrity of data’ as priority

Andrew-Bailey-Conference-Alt-2013-700x450.jpgFCA chief executive Andrew Bailey says the watchdog’s main priority for its register will be the accuracy of data displayed about individuals.

In a letter to MP Nicky Morgan, Bailey responded to comments Morgan made in the Daily Telegraph that the Treasury select committee would raise the issue of the register when the FCA next gives evidence.

In the letter Bailey writes about the work the watchdog is doing to strengthen the regime for reporting firm data so it is more reliable for consumers and businesses.

This includes ensuring information the FCA receives about firms entering administration is more quickly acted upon.

Improving the accessibility of the register is a key objective and the FCA plans to provide a free application programme interface in early 2019.

That will allow developers to provide services which can integrate register data with other data consumers use.

In the meantime Bailey says the search facility has been improved so consumers have a better chance of seeing warnings about cloned firms.

He also touches on a test function launched last month that enables consumers to search for financial advisers based on location.

The FCA also wants to introduce new reporting rules so it can take action against firms to ensure they meet their obligations to keep information up to date.

Advisers have had mixed reactions to the proposals so far.



FCA outlines levy plans for new govt guidance body

FCA-regulated firms will continue to fund the cost of pensions guidance and debt advice as the government moves to a new single public guidance body, the regulator has confirmed. Business contributing to the cost of debt advice in the UK will continue to do so but through split levies – one administered by devolved authorities […]


FCA to review handbook and FAMR next year

The FCA intends to start two major reviews into the advice market next year to assess how its approach to supervision is working a top official says. At the annual Pimfa conference in London today the watchdog’s acting director of strategy, Richard Monks, gave a speech about the evolving world of regulation. The first step […]

Catriona McInally, Prudential

Sustainable income doesn’t need to be a sweat

Only a few months into 2018 and we‘re already fast approaching the end of another year….the tax year.  Whether it’s making full use of any unused ISA allowance or making those last minute pension contributions, thoughts may turn to reflection or review. A review of other finances is also common at this time, including a […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm