Image of two young businessmen discussing document in touchpad aEmployers in the financial industry will be aware that under the Financial Services and Markets Act (2000), the Financial Conduct Authority (FCA) requires the firms that it regulates to adhere to a strict code of recruitment procedure and practice. This includes checking:

• That the knowledge and skills of the potential worker are taken into account

• There are procedures in place to gain information about previous activities and training

• That the candidate is checked to see if they have passed appropriate exams / or have appropriate exemptions

This is to make sure that the candidate is ‘fit and proper’ by the FCA standards to perform the role. However, we recommend that even for positions not subject to regulation by the FCA, positions in the financial sector should still be subject to rigorous pre-employment screening.

This would usually entail:

• Identity and right to work checks

• Residency and credit checks

• Employment history

• Qualifications and memberships checks

• Criminal record (standard disclosure for FCA regulated posts)