FCA considers launch of public adviser register

The FCA and PRA currently maintain a public Financial Services Register, the FS Register, of the regulated firms and approved individuals.

In July 2017, the FCA published proposals to extend the Senior Managers and Certification Regime to almost all regulated firms.

Under these proposals, the FCA will only approve the most senior individuals within firms, meaning that only senior managers will appear on the FS Register.

However the FCA received substantial feedback on the public value of the FCA maintaining a central public record of certification employees and other important individuals in firms regulated by the FCA, including non-executive directors, financial advisers, traders and portfolio managers.

The FCA says it will consult by summer 2018 on policy proposals to address this feedback.