How to check whether an individual or company is FCA registered

When using the financial services of an individual or company, it is important to have confidence in them before entrusting them with your money. While most people who do not work in the financial sector may be unfamiliar with the legislation and standards around finance, there is an easy way to see if they comply – by seeing if they are registered by the Financial Conduct Authority, or FCA.

Authorised, Registered, or Approved

You can check whether a company is FCA registered by using the checker on the FCA website. Legally, almost all firms that provide financial services in the UK must be registered or authorised by the FCA.

If a firm is registered with the FCA, it means it has met the requirements but does not need permission from the FCA to provide services and products. If a firm is described as authorised, it means they have met the FCA’s standards and have permission to provide certain services and products.

If you are checking an individual, you may find them described as approved or certified. This means they have been approved by a firm or certified by the FCA to carry out financial activities.

Unauthorised Firms

It is against the law for firms to be unauthorised, and you can check to see if a firm is on a warning list. You may also find clone firms, which are a copy of an authorised firm, generally set up by fraudsters to scam you.

If a firm has been non-compliant with the FCA regulations, it may be described as ‘revoked’ or ‘no longer authorised’. These firms should be avoided until they have complied and can be registered again. Firms can use FCA compliance consultants like https://www.adempi.co.uk to make sure they fully comply with all relevant legislation.

What to check

When using the register, you will find the firm’s registered name and any other trading names they have, their main place of business, and complaint contact details. Sometimes it may also list the appointed representatives. This information is updated at least once a year.