The rules regarding CRB checks have changed in regard to financial and legal positions. The Financial Services Authority (FSA) or someone working on their behalf is now permitted to acquire a Standard CRB checks on individuals who apply to carry out the business of a Payment Institution. If you are unfamiliar with the term Payment Institution, they are a new type of payment service which was formed out of the Services Regulations 2009, and provide services for individuals such as remitting money from the UK to other countries and credit payment and direct debit services.
The new Payment Institutions are to be regulated by the FSA, with part of their remit to include an assessment of whether individuals that wish to provide such services are fit to do so. An important element of this assessment will take the form of standard CRB checks. The positions involved in payment institutions which fall under this remit, include:
- Directors and managers
- Holders of qualifying holdings
- Those responsible for the management and control of payment institutions
Part 5 of the Legal Services Act which came into fruition back in 2007 created new firms which could provide legal and non-legal services known as alternative business structures.
Within these new firms a number of certain statutory positions have been created, known as the ‘Head of Legal Practice’ and the ‘Head of Finance and Administration’. These positions are responsible for the firm’s compliance with relevant regulations.
Those individuals who hold a restricted interest in such firms are by virtue of their chare interest or voting rights for example, will be subject to a statutory ‘fit and proper person’ test which will include standard CRB checks to determine the presence of prior convictions or cautions.