Entities in the regulator record.

Rating legend

Every entity dossier carries a Regulator Record score (0–100, higher is cleaner) plus a band that summarises the score in plain language. The score is arithmetic on public regulator actions — severity × recency-decay — not editorial opinion. Three special bands sit alongside the numeric scale to capture situations the maths alone misses:

• SevereMajor enforcement against a still-active firm, or a long-running pattern of unauthorised activity. Read the timeline before engaging.
• Never authorisedOperating or operated without verifiable authorisation in any jurisdiction we have records for.
• Licence revokedAuthorisation revoked or withdrawn. May still be visible on the internet under the original brand.
• High concernSignificant enforcement footprint — multiple actions, recent in time, or substantial in size.
• Authorised, with restrictionsHolds a current authorisation that the regulator has formally restricted — e.g. an undertaking not to solicit retail clients in a specific region.
• Mixed recordMultiple regulator findings of varying severity. Current standing requires reader judgement; check the timeline.
• Material findingsOne or more material regulator findings on record, but the firm remains authorised and the matters appear historical.
• Clean recordNo material public regulator actions on file. Apparently in good standing.

Each entity is named in items linked to its dossier. Disagree with a score? Right of reply is available on every dossier page.