| Item | Rule |
|---|---|
| Who can debar | The FSCA, or an FSP debarring its own representative |
| Grounds | Failing the fit and proper requirements, or contravening the Act |
| Effect | Barred from rendering financial services |
| Duration | Between one and five years, depending on the grounds |
| Register | Public, searchable, free |
| Appeal | To the Financial Services Tribunal within thirty days |
| Check | Where | What you are looking for |
|---|---|---|
| Is the firm licensed | FSCA FAIS register | A current FSP number |
| Is the person a representative | FSCA register | Listed under that FSP |
| Is the person debarred | FSCA debarment register | Their name, any spelling |
| Has the firm been warned about | FSCA public warnings | The firm name and trading names |
| Any enforcement action | FSCA enforcement matters | Penalties or directives |
| Belief | Reality |
|---|---|
| A debarment ends when the firm rehires them | It attaches to the person, not the job |
| A debarred person can work unsupervised elsewhere | They cannot render financial services at all |
| Debarment means a criminal conviction | It is an administrative sanction, not a criminal one |
| The register is hard to access | It is public, online and free |
| Only advisors are debarred | Any representative can be |
Data maintained by TradeAnswers · updated as the figures change