FCA launches “Firm Checker”

The FCA has launched a new tool called “Firm Checker” so that consumers can check to see whether firms that approach them are properly authorised and have the right permissions for the services they plan to provide. Research shows that the most popular methods of engagement that resulted in fraud are social media promotions or phone calls, with significant numbers also approached via messaging services.

The Checker, a simplified version of the FCA Register, shows a firm’s name, trading name, address, phone number, website and FRN and then invites the consumer to tick a box setting out the product or service they are enquiring about. They will then be shown whether or not the firm has permission for the requested service, plus the services the firm is authorised to provide, explained in clear language.