Contract requirements for appointed representatives
Published by a LexisNexis Financial Services expert
Practice notesContract requirements for appointed representatives
Published by a LexisNexis Financial Services expert
Practice notes
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 Contract Requirements for Appointed representatives below. |
This Practice Note explains the contractual requirements as between a firm—referred to as a principal—and its appointed representative (AR) under Chapter 12 of the Supervision manual (SUP 12) of the Financial Conduct Authority (FCA) Handbook. For an overview of an AR's appointment and activities, see Practice Notes: Appointed representatives and A principal's responsibility for its appointed representatives.
This Practice Note only
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Contract definition
What does Contract mean?
A contract is a legally binding promise (oral or in writing) by one person to fulfil an obligation to another person in return for consideration. A binding contract comprises four elements: offer, acceptance, consideration and intention to create legal relations.
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