The FCA has launched a redesigned financial services register, which it hopes will make it easier for consumers to identify both regulated and unauthorised firms.

The new layout features “simpler design” and “clearer language” according to the regulator.

The text of the new register is in a larger font than the previous version and the pages feature the colour teal instead of the watchdog’s usual maroon palette.

Drop down menus provide information beneath common sense headings such as “Who is this firm?”, “Who is involved in activities at this firm?”, “What can this firm do in the UK?”, “Who is associated with this firm?”.

The content under each of these headings helps users to identify appointed representatives and principals of firms, as well as the contact details for senior managers in case of complaint.

Under the heading “How are customers protected?” there is an explanation of the role of the Financial Ombudsman Service and Financial Services Compensation Scheme.

The FCA says its new register aims to help consumers protect themselves from harm as it has made past regulatory action against firms and individuals more prominent.

The watchdog says it can help consumers avoid scams and allow firms to cross-check references of staff.

The regulator says its new register has been tested with consumers and other users to ensure it is easier to use and understand.

Executive director of supervision for retail and authorisations Jonathan Davidson says: “The Financial Services Register is an important tool for both the consumers and firms who use it.

“These changes will make it easier for users to navigate and understand the register, and in doing so, help them avoid financial harm such as scams by unauthorised firms and individuals.”

Under the Senior Managers and Certification Regime, the FCA is creating a directory of certified and assessed individuals on the Financial Services Register. 

This has been delayed and the FCA now intends to publish the directory later this year.

The FCA is also currently proposing to extend the previous deadline of December 9 2020 for solo-regulated firms to submit information about Directory Persons to the Register to 31 March 2021.