Appointed representatives and tied agents

This Overview is a guide to the Financial Services content within the Appointed representatives and tied agents subtopic, with links to the appropriate materials.

In line with section 19 of the Financial Services and Markets Act 2000 (FSMA 2000), a person cannot carry out a regulated activity in the UK, or purport to do so, unless they are either authorised by the Financial Conduct Authority (FCA) or the Prudential Conduct Authority (PRA) or are an exempt person in relation to that activity. This is called the general prohibition. Persons who are not authorised by the FCA or PRA and who carry out regulated activities on behalf of authorised persons will be exempt from the general prohibition as 'appointed representatives' (ARs) if they meet the requirements of FSMA 2000, s 39. Authorised persons with a limited permission to carry out certain credit activities will also qualify as ARs where they act on behalf of other authorised persons to carry out regulated activities outside of their limited permission if they meet the requirements of FSMA 2000, s 39(1D). Although they won't be exempt persons,

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Latest Financial Services News

Sustainable finance and ESG weekly round–up—21 November 2024

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FCA proposes extension for handling motor finance commission complaints following court ruling

The Financial Conduct Authority (FCA) has published a consultation paper (CP24/22) on extending the timeframe for motor finance firms to handle complaints related to non-discretionary commission arrangements (non-DCA). The proposed options are either until 31 May 2025 or until 4 December 2025. Responses are sought by 5 December 2024. The FCA also plans on publishing its feedback and its policy statement by 19 December 2024, emphasising that firms should use this extended period to adequately prepare resources for investigating and responding to complaints.

BoE’s Sasha Mills’ speech on the potential transformative impact of innovation in wholesale financial markets

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