Become An Appointed Representative?
An Appointed Representative or “AR” is a firm or person that carries on a regulated activity on behalf, and/or under the responsibility of, an FCA authorised firm, also known as the principal firm.
The regime was originally introduced in 1986 primarily to allow self-employed people to engage in regulated activities without having to be authorised. The model was popular in industries such as insurance but has evolved to encompass other financial services. Subsequently, the AR regime has also extended to include a wider range of models such as regulatory hosting, i.e. where the principal may or may not carry on any substantive regulated activities itself but oversees the use of its permissions by its ARs.
The FCA acknowledges there are certain benefits associated with the AR regime, including encouraging effective competition and providing market access.
We provide first-class regulatory hosting and AIFM solutions via our FCA authorised firms to help businesses run without legal implications. Whether you’re looking for regulatory hosting for a firm or are an individual seeking to become an appointed representative, we provide full regulatory cover, compliance support and access to our wider network of contacts.
Our appointed representatives typically are involved in Corporate Finance, Raising Investment Capital, Mergers and Acquisitions and Capital Introduction.
If you’ve got a background in corporate finance or specialise in another financial services role and want to find out how you could become an appointed representative, why not speak to us today?
We can offer various options for both firms and individuals. Becoming an appointed representative is quicker and a far cheaper alternative way for businesses to commence trading.
Speak to our team today about how we can support you and how to become an appointed representative.
Why Work With Our Team?
As an FCA authorised firm, our appointed representative model provides full regulatory cover, compliance support and access to our wider network of contacts. Unlike other companies, we don’t use a one size fits all approach, but aim to offer a solution to fit our appointed representative’s needs. A key part of our business is providing regulatory hosting solutions for companies seeking to offer regulated services that aren’t currently, or don’t wish to become directly authorised by FCA.
If you’re looking for investment advice or investment management support to comply with FCA regulations, we can also provide appropriate support with a Locum arrangement. We’re happy to provide nominated individuals with specific sector expertise, to act as a locum within your business. This is particularly helpful if your firm is either waiting for FCA authorisation or is already authorised but has a staff shortage.
Benefits of being an Appointed Representative
There are countless benefits to hiring an appointed representative as well as becoming one. As well as entrusting a principal firm to focus on providing compliance, you can continue to focus on running a business with:
- FCA returns taken care of by principal firm
- No capital adequacy requirement
- No annual audit needed
- No SMF 16 or 17 requirement
- Provision of ongoing compliance and CPD training
Sound good? Find out more about how we can help today.