Regulation  

Citizens Advice backs IFAs over FCA register promotion

A spokeswoman from the FCA responded that the register had a major update about six months ago, aimed at making it easier to use.

The site itself states that firms it has been told are providing regulated products or services without the correct authorisation – or are deliberately running scams – are now included with prominent warnings.

“Other information on unauthorised firms includes the different details they give out and whether they are falsely claiming to be from a genuine, authorised firm,” reads the front page.

The FCA spokeswoman added that the Scam Smart campaign was launched around this time last year and all subsequent messages have included the message to check firms on the register before doing business with them.

She also noted that in terms of terminology used within the register, the FCA is limited by what’s in the Regulated Activities Order.

The regulator’s business plan for 2016/17 mentioned that a new phase of ScamSmart would be rolled out later this year, including advertising and more information on the FCA website.

peter.walker@ft.com