FCA’s Directory will be the new public register for checking the details of key individuals working in financial services.
Businesses will need to submit their directory persons information between 9 December 2019 and 9 December 2020.
FCA has created a Q&A to help businesses.
Frequently Asked Questions
What are the timelines for data submissions?
How will firms submit their data?
Firms will upload their data using the FCA’s Connect system. This is the same system firms use for their other regulatory notifications and applications.
The process is simple, with two main ways of submitting the data using either:
- A single notification submission – which is an online Connect form for submitting a single record.
- A multiple entries submission – which is an Excel spreadsheet template firms can download, complete and then upload to their Connect form. This is suitable for submitting multiple records.
FCA will send firms an email receipt within 24 hours when they submit or amend any data. The only time this won’t happen is if FCA needs to investigate a prohibited individual.
When will the spreadsheet be available?
FCA will share the spreadsheet for multiple entries before 9 September 2019 to make sure firms have time to familiarise themselves with it.
Can firms amend their data once submitted?
Yes, firms can amend their data on Connect using the amend form.
What happens if certified staff leave/join a firm after its data has been submitted – but before the deadline date?
Firms will need to amend their submitted data before the deadline date. Firms should keep this in mind when considering when to make their initial submission.
What data do firms need to provide?
Firms will need to provide the following mandatory data for each of their Directory persons:
Directory person’s details (full name, date of birth, national insurance number and/or passport number*, individual reference number (IRN**)
Roles (up to 15 roles can be added)
Start and end dates for each role
*Where a firm has previously only provided FCA with a passport number or NI number for Directory persons, that firm will need to continue to provide the same information to allow the records to be correctly matched.
**Where the individual doesn’t have an IRN, this will be communicated within 24 hours of submission and before their record is published on the public register.
For customer-facing roles requiring a qualification, FCA also require the following:
- Activities which the individual carries on and for which they hold a relevant qualification
- Different customer engagement methods offered by the individual e.g. online, telephone and face to face
- Workplace location (up to five locations can be added)
- Membership of professional bodies (only for those who are members of a professional body)
Firms may choose not to provide the workplace location if disclosing it puts the individual at any kind of risk.
Do firms need to do anything to prepare?
Yes, register for Connect (if they aren’t already registered). Firms should also start considering how they will collate the data required for each of their Directory persons.