What is the FCA Warning List and why does it matter?

The FCA Warning List is the Financial Conduct Authority's published list of firms operating in the UK without FCA authorisation, plus clone firms (entities impersonating authorised firms by copying their name, FRN, or branding). It's updated daily at the FCA's discretion based on consumer complaints, regulator referrals, and FCA's own monitoring. Firms appear on the list either because they're operating in the UK without the required authorisation or because they're a known clone of a legitimate authorised firm.

Why it matters: under MLR-2017 + the FCA's perimeter rules, regulated UK firms are expected to screen counterparties against the Warning List as part of their AML / KYB / KYC process. Failing to catch a Warning List match isn't usually a direct legal violation — but it's a finding that surfaces in regulator inspections + consumer-complaint investigations, and it carries reputational risk if the firm later discovers it was processing payments for or partnering with a Warning-Listed entity.

The list is freely downloadable from the FCA website + accessible programmatically via the Stratum FCA Verification API at /v1/fca/firms/{frn}/warning-list. Entries include the Warning ID, the unauthorised firm's name, any aliases, the warning type (unauthorised / clone-firm / scam / other), the date the FCA added the entry, and (for clone firms) the FRN of the authorised firm being impersonated.

Source: FCA Warning List

Last updated 2026-05-06.