FCA clamps down on Appointed Representatives in fresh consultation

Require stronger oversight by principals

Ayesha Venkataraman
clock • 4 min read

The Financial Conduct Authority (FCA) wants to change the Appointed Representatives (AR) regime to reduce potential harm to consumers and markets, while also retaining the cost, competition and innovation benefits it said the model can provide.

In a consultation published on Friday (3 December), the body outlined its broadly two-pronged plan, requiring more effective and strengthened oversight of ARs by the principals, while also requiring the principals to provide the FCA with more information on their ARs. It said the latter would help the regulator to better identify risks. "We also want to gather more information on principals and their business in relation to ARs, before appointments are made, so that we can, if needed, check whether the appropriate oversight arrangements have been put into place and take any necessary act...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Is financial services regulation really the 'boot on the neck' of business?

Is financial services regulation really the 'boot on the neck' of business?

'For those yet to fully embrace Consumer Duty it is simply wishful thinking'

Andrew Gething
clock 19 September 2025 • 5 min read
FCA considers softer SDR rules for index-tracking funds

FCA considers softer SDR rules for index-tracking funds

Amid ‘challenging’ requirements

Cristian Angeloni
clock 16 September 2025 • 1 min read
FCA: Consumer investment product disclosure system 'not working'

FCA: Consumer investment product disclosure system 'not working'

FCA rules are expected in late 2025

Michael Nelson
clock 11 September 2025 • 2 min read