Do you need a DBS to work in finance? While there is no law stating as such, the Financial Conduct Authority (FCA) requires a Standard DBS check for many roles; otherwise it is a breach of regulations.
So a DBS check isn’t a legal requirement, but employers in finance are well within their rights to request it, as they could get into trouble with the regulator if they don’t. Let’s go into more detail…
Do You Need A DBS To Work In Finance? – The Level Of Check Required
Most finance roles will be eligible for Standard DBS checks, thanks to the following eligibility rule:
“Positions in the financial sector that are regulated by the Financial Conduct Authority, the Prudential Regulatory Authority or the Bank of England, or organisations acting on their behalf. These are commonly referred to as being an approved person, a senior manager or carrying out a controlled function”
This excerpt is from the government’s official Standard DBS eligibility guidance PDF, so if you have roles at your work that meet this condition, they are eligible for Standard DBS checks.
Do You Need A DBS To Work In Finance? – What If The Role Doesn’t Meet Those Conditions?
In this case, the role is not legally required to have a DBS check performed, nor will the FCA require it in order to meet regulations.
However, you may still be asked to have a Basic DBS check performed. There are no eligibility requirements for a Basic check, but it won’t disclose as much as a Standard Check.
So What’s The Difference?
Basic DBS checks only disclose unspent convictions and cautions, whereas Standard DBS checks disclose all of the applicant’s convictions and cautions, whether they are spent or unspent (although some filtered cautions may not be disclosed).
What About Enhanced DBS Checks?
The chances that employees in the financial sector will require Enhanced DBS checks is very slim indeed. Broadly speaking, these are only available for those who work with children and/or Vulnerable Adults (those receiving healthcare).
Do You Need A DBS To Work In Finance? – Summary
In summary, chances are you will require a Standard DBS check to work in finance upon entry to your position. Employers may ask staff that are ineligible for Standard DBS checks to undergo Basic DBS checks, but these are not a legal or regulatory requirement.
If you’ve got any questions, or would like checks for your staff, please feel free to get in touch using the contact details below:
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Further Reading
If you’ve found our post, “Do You Need A DBS To Work In Finance?” useful, you might find these posts interesting too:
- DBS checks for the Financial Sector – provided by Aaron’s Department
- Is your DBS certificate transferrable?
- What else are Standard DBS checks used for?
About The Author
Matthew Dugdale
Matthew is our go-to when it comes to all things related to Recruitment & DBS checks. His experience and expertise helps make sure that everyone gets the correct level of check.