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

Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 31 March 2026 • 1 min read
Data-driven or anecdotal? Examining FCA Consumer Duty board reports

Data-driven or anecdotal? Examining FCA Consumer Duty board reports

'Data is not a by-product of systems; it is a core governance asset'

Chris Davies
clock 27 March 2026 • 6 min read
FCA 'consistently behind the curve' on British Steel – Complaints Commissioner

FCA 'consistently behind the curve' on British Steel – Complaints Commissioner

Regulator hits back at Complaints Commissioner’s final report

Jenna Brown
clock 26 March 2026 • 3 min read