'Baldrick levels of stupidity' as FCA leaves advisers unsearchable for a year

Directory to go live December 2020

Hannah Godfrey
clock • 3 min read

The proposed 12-month period where advisers will be unsearchable on an FCA-regulated database has been likened to an idea from Blackadder's sidekick Baldrick, whose "cunning plans" were ridiculed for their stupidity.

In policy statement PS19/7, published on Friday (8 March), the Financial Conduct Authority (FCA) revealed there will be a 12 month period between December 2019 and December 2020 when advisers will not be searchable on any regulated public register or directory. Advisers who are not held to be ‘senior managers' under the regulator's incoming Senior Manager & Certification Regime (SM&CR) will be taken off the financial services register on 9 December 2019 when the regulation comes into play. At the same time, advisers will not appear on the new directory, which will hold information on ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

MPs press FCA and FOS for answers on ombudsman CEO's 'sudden' departure

MPs press FCA and FOS for answers on ombudsman CEO's 'sudden' departure

Treasury Committee written to chairs of FCA and FOS about Abby Thomas’ exit

Jenna Brown
clock 11 February 2025 • 2 min read
FCA 'agnostic' on advice industry consolidation benefits

FCA 'agnostic' on advice industry consolidation benefits

Regulator unsure on consolidation outcome but will continue engagement with firms

Sahar Nazir
clock 06 February 2025 • 1 min read
What to expect from the FCA on financial crime in 2025

What to expect from the FCA on financial crime in 2025

Financial crime remains at the forefront of the FCA's agenda

Daren Allen
clock 04 February 2025 • 5 min read