FCA launches Firm Checker tool

The Financial Conduct Authority (FCA) has launched a new tool called Firm Checker, which lets consumers check whether a financial services firm is authorised and has permission to sell products and services¹. The Finance & Leasing Association dates the launch to 10 December 2025 and describes it as a tool to help consumers avoid scams, including loan scams².

The FCA says the tool sits alongside its existing Register rather than replacing it. To find a firm's full regulatory record, search for an individual, or find out whether a firm was previously authorised, consumers are directed to continue using the Register¹. The Register lists all the firms and individuals involved with regulated activities, and searches can be made by name or reference number, narrowed by adding a location¹. The FCA advises checking that a firm's permissions match the service it is providing, and using only the contact details listed on the Register, because many scammers pretend to be a legitimate firm¹.

The FCA also warns that contact made unexpectedly about an opportunity is likely to be high risk or a scam¹. It states that it tries to ensure the information on the Register is correct but cannot guarantee its accuracy and does not accept liability for errors or missing information¹.

The Financial Ombudsman Service, in guidance on credit and borrowing complaints last updated on 23 December 2022, points consumers considering a loan or other credit products to the FCA's Firm Checker to confirm a firm is authorised and help avoid scams, and says contact details should match those listed on Firm Checker to avoid scammers pretending to be a real firm³. The ombudsman service covers complaints about consumer credit, including payday loans, debt collection, home credit and catalogue shopping, and also looks at complaints about other lending and borrowing such as mortgages³. It says its service is free and easy to use, and that consumers should give the business a chance to sort things out before bringing a complaint to it³.

The FCA's own research, cited by the Finance & Leasing Association, found that around 800,000 people reported losing money to investments or pensions-related scams in the 12 months to May 2024².

Why it matters for households

Anyone considering a loan, credit agreement or other financial product can check a firm's authorisation and permissions before dealing with it, using either Firm Checker or the fuller Register record¹. The check covers whether a firm is authorised at all and whether its permissions cover the activity being offered, which is the point at which a scam firm typically fails¹. The FCA's caution about unexpected contact applies to approaches by phone, email or online about any opportunity¹. For people who have already lost money or hold a complaint about a credit firm, the Financial Ombudsman Service can look at complaints about consumer credit and other lending, using evidence from the consumer, the business and relevant third parties, and can set out what it thinks needs to be done if it finds the business treated someone unfairly³. The ombudsman service says how long an investigation takes depends on the subject, its complexity and how quickly information is gathered³.

What happens next

No further dates for the tool have been reported. The FCA directs consumers to continue using the Register for full regulatory records, individual searches and checks on whether a firm was previously authorised¹. The Finance & Leasing Association notes that its members may consider how to distribute the new tool as part of customer engagement².