Meet UK Financial Regulatory Screening Requirements and Manage Risk with Ease and Convenience
We have 29+ years’ experience customising international background screening for firms operating in the financial service sector.
Background Check For FCA FIT Compliance
FCA FIT rules requires firms to ensure that all staff, and in particular, Senior Managers and persons in Certificated roles are screened for Competency and Capability, Financial Probity and Honesty and Integrity.
Financial Services Register Check
In the UK, nearly all financial service activities must be authorised by the FCA. Credence conducts thorough searches against the register for verification of name, status, FSR reference number, controlled functions, current employer name and start date. The check also searches all previous companies worked for in a controlled function, with start and end dates. All disciplinary action taken by the Financial Conduct Authority (FCA) or the Prudential Regulatory Authority (PRA) will be listed along with associated dates.
Consult with our compliance experts to develop a tailored program for pre employment screening and continuous background checks.
International Financial Sector Checks
International financial services background screening checks are vital in today’s interconnected world. With the globalization of finance and the rise of digital transactions, financial institutions must ensure the integrity and trustworthiness of their employees and clients.
These checks involve a thorough examination of an individual’s financial history, criminal records, professional qualifications, and reputation in the industry.
They help identify potential risks such as fraud, money laundering, or conflicts of interest. Robust background screening practices not only safeguard the financial institution but also protect clients, shareholders, and the overall stability of the global financial system. Adhering to stringent screening standards fosters transparency, accountability, and trust within the international financial services sector.
Frequently Asked Questions
A search of the Financial Conduct Authority (FCA) Register searches the name, status, FCA reference number, controlled functions, current employer name, and start date.
The research also includes details of all previous companies worked for in a controlled function and lists any disciplinary action taken by the Financial Conduct Authority (FCA) or the Prudential Regulatory Authority (PRA).
As part of our approach to regulatory screening, we recommend a Global Sanction and Compliance Database Check is a search against consolidated databases including the HM Treasury’s Office Financial Sanctions List, UK Sanctions List, United Nations Security Council sanctions list and European Union sanctions list for inclusion in governmental sanctions, enforcements, watchlists and blacklists, as well as criminality