Appointed representatives and tied agents

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This Overview is a guide to the Financial Services content within the Appointed representatives and tied agents subtopic, with links to the appropriate materials.

In line with section 19 of the Financial Services and Markets Act 2000 (FSMA 2000), a person cannot carry out a regulated activity in the UK, or purport to do so, unless they are either authorised by the Financial Conduct Authority (FCA) or the Prudential Conduct Authority (PRA) or are an exempt person in relation to that activity. This is called the general prohibition. Persons who are not authorised by the FCA or PRA and who carry out regulated activities on behalf of authorised persons will be exempt from the general prohibition as 'appointed representatives' (ARs) if they meet the requirements of FSMA 2000, s 39. Authorised persons with a limited permission to carry out certain credit activities will also qualify as ARs where they act on behalf of other authorised persons to carry out regulated activities outside of their limited permission if they meet the requirements of FSMA 2000, s 39(1D). Although they won't be exempt persons, ...

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Most recent Appointed representatives and tied agents content

Practice notes

APR for appointed representatives—applications to perform CFs, notifications, and withdrawal of approval

APR for appointed representatives—applications to perform CFs, notifications, and withdrawal of approvalThis Practice Note considers aspects of the...
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Appointed representatives

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12th Jun
Practice notes

APR for appointed representatives—controlled functions

APR for appointed representatives—controlled functionsThis Practice Note considers the Approved Persons Regime (APR) set out in Part V of the...
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12th Jun
Practice notes

Multiple principals and appointed representatives

Multiple principals and appointed representativesThis Practice Note contains an outline of the rules that apply when multiple principals engage the...
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12th Jun
Practice notes

UK tied agents

UK tied agents This Practice Note examines the post-Brexit requirements of the Financial Conduct Authority (FCA) in relation to tied agents, including...
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12th Jun
Practice notes

A principal's responsibility for its appointed representatives

A principal's responsibility for its appointed representativesThis Practice Note provides an introduction to some of the regulatory responsibilities...
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12th Jun
Practice notes

Contract requirements for appointed representatives

Contract requirements for appointed representativesBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit...
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12th Jun
Q&As

Does an appointed representative have any obligations to the Financial Conduct Authority (FCA) in respect of its principal, if the appointed representative has concerns that the principal is not meeting its FCA obligations and requirements?

Does an appointed representative have any obligations to the Financial Conduct Authority (FCA) in respect of its principal, if the appointed...
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9th Jun
Q&As

What are the key considerations when a firm contracts with an appointed representative?

What are the key considerations when a firm contracts with an appointed representative?BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’)...
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9th Jun
Q&As

In regards to regulated activities, where a company act as an introducer, what (if any) notice requirements apply? Does a company have to tell the customer on the website that they are an introducer? Does the company have to include authorisation details of the regulated entity who will provide the finance?

In regards to regulated activities, where a company act as an introducer, what (if any) notice requirements apply? Does a company have to tell the...
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9th Jun
Q&As

SUP 12.4.5 requires multiple principals to enter into multiple principal agreements in relation to their appointed representatives (ARs). Does this apply to every multiple principal scenario, eg if a money remittance business has multiple ARs and they all have other principals, does the money remittance business need to enter into a separate agreement with each individual principal?

SUP 12.4.5 requires multiple principals to enter into multiple principal agreements in relation to their appointed representatives (ARs). Does this...
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9th Jun

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