The Appointed Representatives Regime (ARR), a well-known and important feature of the UK regulatory landscape, enables certain businesses – Appointed Representatives (ARs) – to conduct regulated activities without having to be authorised by the Financial Conduct Authority (the FCA). The FCA is proposing significant new rules and guidance that seek in the main to increase the regulatory burden on Principals to oversee ARs and to provide information to the FCA. According to the FCA, there are currently around 40,000 ARs with 3,600 Principals.
Principals in the Spotlight as UK’s FCA Consults on Changes to Appointed Representatives Regime
