How public financial services registers help with due diligence

Registers answer a narrow but important question

A public register can help you check whether a firm or person appears to be licensed, registered, authorised, approved, or formerly registered. It does not prove performance, integrity, investment quality, or suitability.

That distinction matters. The SFC register page, for example, includes explicit limitations around register purpose, daily updates, and the fact that publication does not guarantee performance or creditworthiness.

Check the right register for the right claim

Hong Kong claims should be checked against the SFC Public Register for licensed persons and registered institutions. Singapore capital markets claims should be checked against the MAS Financial Institutions Directory. UK authorisation claims belong on the FCA Financial Services Register.

US adviser claims should be checked on IAPD, while broker and brokerage firm claims should be checked on FINRA BrokerCheck. Australian AFSL and representative claims should be checked on ASIC professional registers, with financial adviser details on the Financial Advisers Register where relevant.

Read the permissions, not just the name

A firm name appearing in a register is only the start. Check licence type, status, regulated activities, permissions, restrictions, conditions, representatives, approved individuals, addresses, and whether the register warns about clones or unauthorised firms.

If a firm says it can manage assets, provide advice, execute trades, hold client money, or market funds, the register should be checked against that exact claim. A mismatch does not automatically prove misconduct, but it is a reason to ask questions.

Open official links directly

LicenseCompare uses new-tab official links because due diligence should be source-led. A third-party summary is useful for orientation, but the official register should be the record checked before decisions.

Dynamic registers can change daily or more frequently. Users should record the date and time of checks and contact the regulator or adviser where a result is unclear.

A register check should be documented

A serious register check should record the date, time, search terms, legal entity name, licence or registration number, status, permissions, conditions, and any warnings. Screenshots can help, but a written note is better because it explains what was checked and what was not.

This matters in cross-border diligence. A group may have several similar names, with one licensed entity in one jurisdiction and another unlicensed marketing entity elsewhere. The register check should identify the exact entity providing the exact service to the exact client.

Registers are strongest when paired with documents

Register information should be compared with contracts, account opening forms, pitch decks, websites, invoices, and email signatures. If the entity name, service description, or licence number differs, ask why. Sometimes the answer is harmless; sometimes it reveals an unauthorised entity or a clone risk.

For investment managers, check whether the licence or authorisation covers management, advice, dealing, custody, or representative activity. For brokers, check whether the firm and individual records support the claimed transaction role. For advisers, check whether public disclosures match the service being sold.

How LicenseCompare uses register links

LicenseCompare does not try to replace official registers with scraped profiles. The product points users to official register entry pages and describes what to look for. That design reduces the risk of stale firm records and keeps due diligence source-led.

When a register is dynamic or protected by JavaScript, CAPTCHA, or terms restrictions, the source monitor should not bypass those controls. It can monitor public entry pages and document limitations, while users perform the actual firm search directly on the regulator site.

Register checks for licensing applicants

Applicants should use public registers before submitting their own application. Comparable firm records can help identify terminology, common permission combinations, public conditions, and how regulators present firms in the same market. This is benchmarking, not copying.

The applicant should also check service providers. If a broker, adviser, custodian, fund administrator, appointed representative, placement agent, or consultant claims regulated status, verify the relevant legal entity and activity. A licensing application can be weakened by relying on a counterparty whose status is unclear.

Register checks should be repeated after approval. The firm should confirm that its own public record is accurate and that client-facing materials describe the authorisation without exaggeration.