FCA spends £200,000 on adviser search function for register

Register updated 24 September

Hannah Godfrey
clock • 1 min read

The Financial Conduct Authority (FCA) has so far spent £200,000 on an update to the Financial Services Register that allows users to search for advisers geographically.

A freedom of information (FOI) request by The Yardstick Agency confirmed the additional ‘find me an advice firm near me' facility had cost the regulator £200,000 to date. The feature, which went live on 24 September 2018, is currently in its ‘beta' phase, meaning the testing of it is not yet complete. According to the regulator, the new facility is intended to be primarily helpful for consumers, rather than for firms. And, in the watchdog's response to the FOI request, it acknowledged there had been widespread criticism of the register's accessibility and, as such, the feature is one ...

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