An FCA Appointed Representative is a firm or individual that does not hold authorisation from the FCA but instead acts under the authority of an authorised firm’s authorisation known as the principal firm.
Principal firms are responsible for the compliance of their FCA appointed representatives and are obligated to ensure that they only appoint suitable FCA appointed representatives, and that there are appropriate controls in place to ensure their compliance.
Being an FCA appointed representative is often a cost-effective and quicker route to being able to undertake regulated activities. However appointed representatives often face more limitations, put in place by principal firms, than firms which are directly authorised by the FCA.
You can read more about being an FCA Appointed Representative on the FCA website or download our free guides below.
Our appointed representative incubator service enables firms to commence trading without the need for direct FCA authorisation but also provides the stepping stones towards applying for and obtaining direct authorisation. Our appointed representative incubator service is normally used by firms for a period of 12 to 18 months (or longer if required) and includes:
· Appointed Representative status
· Cloud-based product sourcing, CRM and compliance management software for operating a regulated firm
· Compliance documentation and manuals
· Compliance support
· No product ties – you’re free to sell the products and services you choose provided that they are compliant
· Direct authorisation application preparation and ‘hand holding’ throughout the application process to enable you to become directly authorised
All of this is included in your monthly incubator service and requires no capital outlay. Enquire today using the form below.
We’re experts in FCA regulation; our team consists of ex-regulators, legal practitioners and industry professionals which is why we’ve been chosen by thousands of firms to assist them with their compliance, and why we are also regularly instructed by firms already holding FCA appointed representative status with other principals to prepare them for direct authorisation, enabling them to grow their business free of ties.
Speak to one of our experts today for confidential and no obligation advice.