Solo-regulated firms: directory persons update
From mid-December 2020, we will begin to incrementally display data from solo regulated firms as it is submitted, with a deadline of 31 March 2021. Firms can submit their information earlier than March if needed.
Firms with more than 10 directory persons can submit using the multiple add or amend submission form, you will need to be assigned a timeslot to do so. By 12 October, we will contact around 2,000 firms who we believe may want to use multiple add or amend data submission, based on the number of directory persons they employ. When we contact firms, we will explain the dates available to use multiple data submission.
- Firms submitting before the earliest publication date should submit between 26 November and 4 December. Firms can use the single submission form to submit up to 9 December and their data will appear from mid -December.
- Firms submitting after the earliest publication date but before the deadline, should submit between 11 January and 18 March. Firms can use the single submission form to submit up to 31 March 2021 deadline.
As part of the SM&CR, firms must submit their directory persons data using the FCA’s Connect system. This data, which will be owned and maintained by firms, will be published on the FS Register.
Deadlines for submitting certified and assessed persons information
We are now proposing to extend the previous deadline of 9 December 2020 for solo-regulated firms to submit information about directory persons to the FS Register to 31 March 2021. Find out more about the proposed change.
The submission deadline for banks, building societies, credit unions and insurance companies ended on 9 March 2020.
Please note: until we start publishing the data, dual regulated firms can either regularly update their certified and assessed persons data as changes occur, or wait and provide a bulk update once the new launch date is confirmed. See our guidance below on adding or amending your data.
Preparing your certified and assessed person submission
Our Policy Statement (PS19/7) provides useful background about certified and assessed persons and information for preparing your submission. Page 5 includes a full list of all the certified and assessed persons information that will appear publicly on the FS Register. Please read this before preparing your submission.
Adding or amending your certified and assessed persons data
Use the new directory persons Connect form which offers 2 ways of adding or amending your data: using a single entry form for a single record notification, or a template where you can add or amend multiple entries.
Read our 5 top tips for submitting correctly
When using the multiple add template or multiple amend template, make sure you:
- Save your upload as a CSV UTF-8 file. Once converted to CSV UTF-8, do not make further changes to it. If changes are required, update your original Excel file (.xlsx) and then convert it back to CSV UTF-8.
- Provide a role start date and FRN for each certified and assessed person.
- Use the drop-down values in the template and don’t ignore cell formatting. Pay particular attention to dates, ensuring Excel recognises them as dates rather than ‘general’ or ‘text’ (see the number format box in Excel).
- Avoid using commas and special characters in the template, and avoid leaving blank spaces in the national insurance field.
- Use the latest version of the templates.
More information for your submission
Certified and assessed persons consist of:
- all certified staff (those holding a certification function under the SM&CR)
- directors who are not performing Senior Manager Functions (SMFs) – both executive and non-executive
- other individuals who are sole traders or ARs (including those within ARs) where they are undertaking business with clients and require a qualification to do so
Certified and assessed persons information to be published on the Financial Services Register includes:
- name and any previous names
- roles with start and end dates
- activities undertaken
Customer-facing roles requiring a qualification must include:
- customer engagement methods
- workplace location (where relevant)
- memberships of professional bodies
How we’ll make your data public
As part of the SM&CR, the information on the directory of certified and assessed persons will be publicly available when it is hosted on the FS Register later this year.
If you need more help
Our Questions and Answers cover a range of topics such as reporting, the submission process and use of data.
If you have general questions about the directory persons, either call us on 0300 500 0597 from the UK, on +44 207 066 1000 from abroad, or email us.