Appointed representatives

The following Financial Services practice note provides comprehensive and up to date legal information covering:

  • Appointed representatives
  • What is an appointed representative?
  • Additional requirements for certain types of appointed representatives
  • Tied agents and MiFID optional exemption appointed representatives
  • Structured deposit appointed representatives
  • Mortgage intermediary appointed representatives
  • What activities can an appointed representative carry on?
  • Insurance distribution activities
  • Regulated mortgage activities
  • What are a principal's responsibilities?
  • More...

Appointed representatives

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

BREXIT: The UK’s exit from the EU and the end of the implementation period on 31 December 2020 will have an impact on this Practice Note. For more information, see Impact of Brexit on the appointed representatives regime below.

This Practice Note discusses the main Financial Conduct Authority (FCA) provisions applying to appointed representatives (ARs) that carry out regulated activities on behalf of authorised persons. Provided the conditions of the AR regime are complied with, ARs are exempt from the need to obtain an authorisation.

For guidance on the contract requirements for ARs see Practice Note: Contract requirements for appointed representatives. For further guidance on multiple principals, see Practice Note Multiple principals and appointed representatives, and for additional information on responsibility for ARs, see Practice Note: A principal's responsibility for its appointed representatives.

What is an appointed representative?

An 'appointed representative' is defined in section 39 of the Financial Services

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