Trading names

Learn what you should and shouldn’t do when registering a trading name that’s different from your firm’s registered company name.

Using sensitive words in your trading name

Including certain sensitive financial services terms may be misleading depending on your firm’s business.

You must seek a view from us before trading under or registering a business name containing sensitive words[3].

Preventing consumer harm

Where a trading name is used in communications with customers, it should be clear, fair and not misleading.

A trading name could mislead if it suggests that:

your firm is carrying out regulated activities which it doesn’t have permission for
consumers can access the Financial Ombudsman Service[4] or Financial Services Compensation Scheme (FSCS)[5] when they can't
your firm is, or is associated with, another unconnected firm

If your firm is carrying out unregulated activities under a trading name

In all relevant consumer communications, you must clearly highlight which activities are regulated and which aren't.

If you don't do this, you could be breaking our rules. Not being clear in this way may mean consumers are unsure on their ability to access the Financial Ombudsman Service or FSCS.

Find out more about financial promotions[6].

Consider your requirements under our Consumer Duty

Our Consumer Duty[7] means that firms must put their customers' needs first.

If your firm is in scope of the Duty, you should consider your obligation before registering a trading name. This includes ensuring you meet our ‘consumer understanding’ outcome – that all communications should support and enable consumers to make informed decisions about financial products and services.

Consider how many names you trade under

Having multiple trading names can be difficult for consumers to follow.

Consider whether having large numbers of trading names could cause consumer confusion and affect your ability to communicate with customers in a clear, fair and not misleading way.

Trading names and regulatory breaches

Registering a trading name with us has no legal effect.

Adding a third party as one of your firm's trading name does not:

change that person’s regulated status
mean that an unauthorised person can carry out regulated activities

If that person carries out regulated activities without being authorised or exempt, it’s likely that they'll be carrying out unlawful unauthorised business.

Registering a trading name is not an alternative to becoming authorised or appointed as an appointed representative.

It's a criminal offence for a person who isn’t authorised or exempt to carry on regulated activity in the UK – with a potential penalty of 2 years’ imprisonment, a fine or both.

The authorised person that registered the trading name may also be breaking our rules, because inappropriate registration of trading names could mislead consumers with the risk of causing harm.

Actions we can take

We supervise how trading names are used. If we find firms aren’t following our rules, we will act.

This can include:

fines
removing trading names from the FS Register
securing compensation for consumers
stopping firms from trading – or preventing them from trading without getting our prior written consent

09/08/2023 : Information changed Page updated as part of website refresh

10/02/2023 : Editorial amendment page update as part of website refresh

First published: 20/10/2022 Last updated: 09/08/2023 See all updates

Trading names

On this page

Using sensitive words in your trading name

Preventing consumer harm

Trading names and regulatory breaches

Actions we can take

On this page

Keeping your firm's details up to date[2]