What does it check?
For roles regulated by the FCA, and where an individual's previous employers were also subject to FCA regulation, we'll look to obtain a regulated reference from them.
Where a standard employment reference would typically come from the HR department, a regulated reference normally requires the involvement of a firm’s compliance department. This would be expected to disclose details of an individual's conduct record, including any investigations or disciplinary warnings, for example.
This check is an enhancement of our Employment History Check which involves a customised process and is using the FCA’s questionnaire.
The FCA permits firms to respond to regulated reference requests within 6 weeks.