Britain’s Financial Conduct Authority (FCA) has proposed a new directory of individuals employed in the UK financial services sector, a move it hopes will reassure the public that listed individuals are ‘fit and proper’ for their roles.

The directory will include more information about individuals working in financial services than is currently available, the FCA said, and will cover all those who hold senior manager positions requiring FCA approval, as well as those whose roles require firms to certify that they are ‘fit and proper.’

Jonathan Davidson, Executive Director of Supervision (Retail and Authorisations) at the FCA, said:
“We’ve listened to feedback from firms and consumers about the importance of being able to check the status of financial services staff.

Introducing the Directory will make it easier for people to be confident they can find the right people to deal with.

The FCA also published near final rules on the extension of the Senior Managers and Certification Regime (SM&CR) to almost all regulated firms, which enables firms to now access the Guides to the SM&CR to understand what steps they need to take to prepare for its implementation.