The FCA has today launched its long-awaited upgraded Financial Services Register with what it calls a simpler design and clearer language.

The regulator says the new look will give consumers easier access to information and boost consumer protection.

The previous register version had been criticised as hard to read and dated in style.

The Register had more than 7m unique users in the past year and provides a database of regulated firms and individuals.

The new look register includes a list of individual prohibitions, with 458 individuals listed as prohibited as of today, a Fund Search and access to other registers such as the Investment Firms Register.

Key enhancements to the Register include:

• clearer navigation and design

• simpler language

• more information on the Register’s purpose, how to use it and how to avoid scams

• important information made more prominent, including past actions against individuals and firms, and consumer protections

• optimisation for some mobile devices

The FCA says it will review and improve the FS Register on an ongoing basis.

Jonathan Davidson, FCA executive director of supervision, retail and authorisations, said: “The Financial Services Register is an important tool for both the consumers and firms who use it.

“These changes will make it easier for users to navigate and understand the Register, and in doing so, help them avoid financial harm such as scams by unauthorised firms and individuals.”

Under the Senior Managers and Certification Regime (SM&CR), the FCA announced its commitment to publishing and maintaining a directory of certified and assessed persons on the Financial Services Register. Having already announced a delay to this to the new regime, the FCA now intends to publish it later this year, it said.

The FCA is also currently proposing to extend the previous deadline of 9 December 2020 for solo-regulated firms to submit information about Directory Persons to the Register to 31 March 2021.

The new look register can be accessed here: Financial Services Register page