FCA proposes directory of investment advisers

Britain’s financial services regulator has proposed a new directory that consumers and firms can use to check the backgrounds of investment advisers and other individuals.

The Financial Conduct Authority (FCA) will include people in its directory who hold senior manager positions that require FCA approval and those whose roles require firms to certify that they are fit and proper.

Consumer-facing roles are highlighted and this includes mortgage and investment advisers. Consumers will be able to search by location to find local advisers.

Jonathan Davidson, executive director of supervision (retail and authorisations) at the FCA, said the proposed directory came on the back of feedback from firms and consumers.

“Today’s [July 4th] 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,” he said.

Simultaneously the FCA has published its “near final” rules on the extension of the Senior Managers and Certification Regime (SMCR) to almost all regulated firm.

Guides and the SMCR are available for firms to understand what steps are needed for its implementation.

The SMCR sets standards for the conduct that consumers and regulators expect from all financial services staff.

©2018 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

Innovative US companies are providing some of the solutions to the climate crisis and transition to a more sustainable economy. We see potential opportunities in areas including renewable energy and…
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

IRELAND SPOTLIGHT

Visit our dedicated Ireland channel for all the latest news and analysis on the country's investment industry.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST