Licensed Conveyancers

Important Note

Information for licensed conveyancers who advise on and arrange insurance for their clients as an incidental part of a conveyancing transaction

Under the FSMA as amended the FCA is responsible for regulating financial services conduct.

Licensed conveyancers who advise on or arrange contracts of insurance, such as defective title or search indemnity policies, are deemed to be carrying on insurance mediation services under the Act and are thus subject to the FCA regulations. However, under the designated professional body regimes, rather than being overseen by the FCA, licensed conveyancers are overseen by the Council for Licensed Conveyancers.

This in itself is not sufficient to allow you to advise on and arrange contracts of insurance:

  • your firm must be included on the FCA’s exempt professional firms (EPF) register;
    or
  • your firm must be authorised by the FCA and included on the FCA register;
    and
  • you will need to comply with the regulations laid down by the Council for Licensed Coneyancers, or the FCA as applicable.

If your firm is not on the FCA register either as a regulated FCA firm or EPF to undertake insurance mediation activities you will be committing a criminal offence. If you do not appear on either register you should contact the SRA before undertaking any insurance mediation activities including issuing policies.

Is your firm on the EPF register or the FCA register?
You can check this on https://register.fca.org.uk/

If you require any further assistance please call us on 020 7397 4363.