Appointed representatives: Are you really in control of the risks?

For many firms, using appointed representatives (AR) can be an attractive way to grow. The model can help expand distribution, increase market presence, and create new revenue opportunities without the cost and complexities of establishing additional directly authorised businesses.  However, with those benefits comes a significant regulatory challenge. Since the Financial Condcut Authority strengthened its expectations around principal firms and appointed representative oversight in December 2022, principal firms need to have a deep understanding of their ARs, the activities the undertak...