The Financial Sector and Background Screening

As most of you will be aware, the financial sector is governed by the regulatory body ‘The Financial Conduct Authority’ (FCA) in the UK. The main focus on the FCA is to maintain the integrity of financial markets and it also protects consumers from potential harm, crime and misconduct.

The reason we are discussing the FCA today, is that it also plays a role in certain aspects of background screening checks with the financial sector.

The FCA’s background check process aims to ensure individuals with key roles in the financial sector have the necessary skills and qualifications to carry out their responsibilities. It also confirms that individuals have the integrity to carry out their roles by checking financial etiquette, criminal record, and other relevant factors.

In the UK, background screening is mandatory for most jobs in the financial sector and is widely considered to be an essential process. Due the sensitive nature of work within the financial sector and the risks involved; mandatory background screening is import for several reasons:

  1. Employee Background Checks
  2. Employee Financial Soundness
  3. Fitness and Propriety Assessment
  4. Ongoing Monitoring Once Hired
  5. Regulatory Compliance and Requirement Checks
  6. Risk Mitigation
  7. Client and Investor Trust
  8. Defence Against Money Laundering


However, it is important to note that the screening requirements may differ depending on what part of the financial sector you work in. The FCA has many resources online to guide those in the financial sector and help them understand the background screening requirements. It is also important to note that any background screening in this sector is always carried out in accordance with applicable laws, regulations, and privacy considerations.

Did you know that CBS can perform background checks for the financial sector?

Our background checks are conducted under the Financial Services and Markets Act 2000 on one easy centralised system.


Using our service for FCA background screening requirements, you will receive:

  • 100% validated results
  • 80% of reScreening applications completed in 24 hours
  • Quick and easy, free registration
  • A web-based solution available 24/7 from any location
  • Pay-as-you-go service


To find out more about our FCA screening click here; or, to get in touch and speak to us directly, call us today on 01443 799 900.

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