FCA mulls plans for new financial services employee register

Revamp of FS Register on cards

The FCA is considering plans to create a separate register, which would include non-executive directors, financial advisers, traders and portfolio managers, in the wake of feedback received on its proposals for the Senior Manager & Certification Regime (SM&CR).

In August last year, a Freedom of Information request submitted by sister title Professional Adviser to the Financial Conduct Authority (FCA) revealed all CF30 certified workers would no longer be "approved" under the incoming SM&CR, meaning a number of advisers would fall off the Financial Services Register. In a statement issued this morning, however, the financial watchdog said it had received "substantial feedback" on the public value of the FCA maintaining a central public record of certified employees and other important individuals in firms regulated by the FCA who would no longer...