First Advantage

March 7th PRA/FCA Update

The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) reviewed feedback provided by respondents to the new conduct rules and regimes of the March 7th requirement where firms are responsible for taking reasonable steps to obtain appropriate references covering the last 5 (five) years instead of 6 and ‘as soon as reasonably practicable’ upon request containing ‘all relevant information’ of which it is aware.

Requests for additional clarity or a standard template are under consideration. Third parties, such as First Advantage follow these guidelines for their background screening processes. References should be provided with due skill and care and be factual in content.

The financial services industry still remains in the forefront of background screening industry standards and risk mitigation.

In our white paper released earlier last month, First Advantage provided guidance on the proposed changes and how this could affect background screening within the industry in preparation for the proposed changes that went live 7th March.
To download the guide, please click here.

Background Check Resources

Trustworthy information to assist you with strategies that empower business growth, enlighten leadership and help you face the future with confidence.

Webinar
Criminal Records Searches in U.S. Employment Background Screening Explained
March 2, 1:00 p.m. ET

About First Advantage

Along the applicant journey and beyond, leading HR teams around the globe rely on First Advantage for screening, verifications, safety, and compliance. Striking the balance between tech and people, our innovations help you Hire Smarter and Onboard Faster.
People are at the Heart of Everything We Do

First Advantage is committed to environmental, social, and corporate governance initiatives.