Can I Get FCA Authorisation with a Criminal Record?

March 26, 2025 by Heidi

Mortgage Advisors

The Financial Conduct Authority (FCA) requires all UK mortgage advisor to have a CeMAP Mortgage Advisor Qualification or equivalent to practice. However, brokers working at a company that is FCA regulated must also pass a test to ensure they are “fit and proper”.

As mortgage advisors act as a person of trust and responsibility in transactions involving large sums, this is naturally an imperative process. Designed to ascertain their integrity and honesty, this test considers an advisor’s criminal history.

Individuals who wish to become mortgage advisors that carry a criminal record are understandably interested in whether their history will impact or preclude them from performing their chosen role. According to its website, the FCA won’t necessarily refuse to approve an individual with a past conviction or criminal record. It is willing to use a case-by-case assessment when considering authorising applications. However, the FCA will weigh up several factors when forming its final decision.

FCA considerations for applicants with a criminal record

When examining applications of individuals with a criminal history, the FCA will consider the manner of conviction levelled at them and whether it is spent. It will also look at how much time has passed since. It is worth noting that no specific tariff or time limit is in place, as the FCA openly says that it will consider all cases individually.

The maner of the conviction also has a bearing. For instance, the FCA will consider if the criminal conviction calls the applicant’s integrity or honesty into question. While some convictions are isolated incidents, the financial regulator will also assess whether there are recurring convictions that form a pattern over time. Finally, the FCA will consider the relevancy of a criminal conviction and whether it applies to the role an individual wants to assume.

How do you prepare to make an FCA application?

When preparing an FCA application the first place to start is the regulator’s website. The site itself explains that there is a lot of information to digest, but insists that applicants read the page in full. Read all instructions carefully and ensure that you understand the stages involved fully. If any area of the application process remains unclear, you can contact the FCA with your questions.

The regulator expects all documents to be submitted as final versions with each thoroughly reviewed and signed off correctly. No draft documents are acceptable. The FCA recommends that individuals consider taking either compliance or legal advice to prepare for their application. With an understanding of their circumstances, applicants should also be prepared to fully articulate their regulatory obligations in clear terms.

It is essential that you are completely transparent during the application process. Individual’s must be honest and open in their application and if the FCA requests further details, a proactive approach is advised with swift responses.

Do I need to disclose past criminal convictions and cautions in an FCA application?

It is crucial that you disclose any convictions to the FCA. This includes both unspent and spent criminal convictions. Full transparency with a complete history of convictions is a requirement. Individuals who fail to include information regarding their criminal record can find that their application is immediately rejected.

Applicants should disclose their conviction when specific circumstances apply. For instance, if the conviction is for a listed offence or if they were given a detention for sentence of service or a custodial sentence. Applicants should also disclose details when they were convicted of offences further to those that don’t fit such circumstances.

Individuals who were under the age of 18 when they were convicted, and less than five years and six months have expired, must disclose convictions, as well as those who were 18 or over when convicted and less than 11 years have gone by.

Under certain circumstances applicants should also disclose if they have received a caution. For example, a caution requires disclosure if it was for a listed offence. Furthermore, when the applicant was younger than 18 years old when it occurred and less than two years have elapsed since the date the caution was received disclosure is necessary.

Finally, if applicants were older than 18 when they received the caution and no more than six years have expired, they must also disclose the details to the FCA.

The FCA will add successful applicants to the financial register and send a written confirmation of registration and authorisation. The regulator will also confirm the regulated activities the applicant is permitted to perform.