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REG NETWORK FEATURE:
Regulatory & Licensing Checks for Third Parties
Assess a counterparty’s regulatory authorisations and permissions before you trade with them, as part of your cross-border due diligence. Regulatory & Licensing is included as part of your REG Network subscription, so you can confirm a company is properly licensed to operate, wherever in the world they are based, before the relationship goes any further.
Third Party Compliance Checks: Know They're Authorised Before You Trade
Trading with a counterparty that turns out to be unauthorised, or whose permissions do not cover the activity you assumed they were licensed for, is a regulatory risk that lands on you as much as them. Regulatory & Licensing gives you a clear view of a company’s regulatory standing, its directors’ authorisations, and its wider corporate structure, so that risk is caught before onboarding, not after.
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Avoid Unauthorised Trading
Confirm a counterparty holds the regulatory authorisations and permissions their activity requires before you do business with them.
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Review Directors and Officers
See the regulatory status of the individuals behind a company, not just the company itself, so you understand who holds the authorisations you are relying on.
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Branch and Parent Data
Understand a company’s wider corporate structure, including branch and parent relationships, so you know exactly which entity you are trading with and where regulatory responsibility sits.
Step-by-Step "How It Works"
Regulatory standing is not something to check once and forget. Regulatory & Licensing keeps that picture current, from first search through to ongoing oversight.
Pull Regulatory Status
Retrieve the company’s current authorisations, permissions and licensing status from relevant regulatory registers.
Review Directors and Officers
Check the regulatory standing of the individuals named as directors and officers, not just the company as a whole.
Assess Corporate Structure
Review branch and parent data to understand the wider group structure and where regulatory responsibility sits.
Monitor for Changes
REG Network monitors regulatory status on an ongoing basis, so you are alerted if a counterparty’s authorisation or permissions change.
Built on Authorisation, Accountability and Structure
Every insurer, broker and MGA relies on third parties: the brokers who place business, the coverholders and MGAs binding under delegated authority, introducers, appointed representatives and outsourced claims partners. A third party compliance check confirms that each of them is authorised for the activity you are relying on, that its permissions cover that activity, and that the people running it hold the approvals they should.
For UK firms that usually starts with the FCA Register, but distribution chains rarely stop at the border. Regulatory & Licensing pulls authorisation and licensing status from the relevant registers wherever a counterparty is based, links it to the directors and officers behind the firm, and keeps it under review. Your regulatory checks on third parties stay current after onboarding, not just on the day they were run.
Third Party Compliance Checks for Insurers, Brokers and MGAs
Avoiding Unauthorised Trading
Trading with a company that is not properly authorised, or whose permissions do not cover the specific activity involved, is a risk that does not stay contained to them. Depending on the relationship, it can expose your own business to regulatory scrutiny, reputational damage or worse. Regulatory & Licensing gives you a direct way to confirm a counterparty’s authorisations and permissions before the relationship begins, and to keep that confirmation current as circumstances change, rather than relying on a one-off assurance taken at face value during onboarding.
Reviewing Directors and Officers
A company’s regulatory standing is only part of the picture. The individuals who run it, its directors and officers, may hold their own regulatory approvals or restrictions, and understanding who they are matters just as much as understanding the company’s own authorisation. Reviewing this information gives your compliance team a fuller, more accurate view of who is actually accountable within the businesses you trade with, supporting the kind of due diligence that goes beyond a surface-level company check.
Branch and Parent Data
Regulated companies rarely exist in isolation. A branch may operate under permissions held by a parent entity elsewhere, or a group structure may mean regulatory responsibility sits somewhere other than the name on the contract in front of you. Branch and parent data gives you visibility of that wider structure, so you know exactly which entity you are dealing with, where their regulatory permissions actually originate, and where responsibility sits if something goes wrong.
Stay Ahead of Your AML Obligations
Faster onboarding, smarter assessment and safer oversight. Regulatory & Licensing puts you in control of authorisation risk without slowing your business down.
Frequently Asked Questions
What is a third party compliance check?
A third party compliance check confirms that a firm you work with is properly authorised, holds the permissions its activity needs and is run by approved people. For insurers, brokers and MGAs it covers brokers, coverholders, appointed representatives and outsourced partners, and it should be repeated whenever their status changes, not only at onboarding.
How do I check a broker or MGA is FCA authorised?
For a UK firm, the FCA Register shows its status, permissions, appointed representatives and approved individuals. Overseas firms need the local regulator’s register, which varies by country. Regulatory & Licensing pulls this status for counterparties wherever they are based, shows the directors and officers behind them and alerts you if their authorisation or permissions change.
How often should third party compliance checks be repeated?
A check is only accurate on the day it is run. Authorisations can be varied, cancelled or restricted at any time, so a yearly review can leave months of exposure. Most firms check at onboarding, at each formal review and whenever an alert is raised, which is why REG Network monitors regulatory status continuously between reviews.
What does Regulatory & Licensing check?
Regulatory & Licensing assesses a company’s regulatory authorisations and permissions, the regulatory standing of its directors and officers, and its wider branch and parent structure, as part of your cross-border trade due diligence.
Does this cover companies outside the UK?
Yes. Regulatory & Licensing is designed to support cross-border trade due diligence, assessing authorisations and permissions for counterparties wherever they are based.
Why does REG check directors and officers, not just the company?
A company’s authorisation does not always tell you everything about who is accountable within it. Reviewing the regulatory standing of directors and officers gives you a fuller picture of who you are really dealing with, not just the name on the company record.
What is branch and parent data, and why does it matter?
Many regulated companies operate as part of a wider group, where a branch may trade under permissions held by a parent entity elsewhere. Branch and parent data shows you that structure, so you understand exactly which entity you are trading with and where regulatory responsibility sits.
Does Regulatory & Licensing replace the need for further due diligence?
No. Regulatory & Licensing confirms authorisation and permissions, but it is one part of a wider due diligence picture. It is typically used alongside AML Screening, Declarations and Company Credit Scoring.
Is Regulatory & Licensing included in REG Network, or is it a separate cost?
Regulatory & Licensing is included as part of your REG Network subscription. There is no separate product to buy.