The Financial Conduct Authority (“FCA”) has confirmed new rules to improve oversight of Appointed Representatives (“AR”), which will take effect on 8 December 2022 (“New Rules”). The AR regime is set in primary legislation and allows unauthorised firms to engage in regulated activities without having to be authorised by the FCA.

The New Rules will affect around 3,400 principal firms and 37,000 ARs. The FCA has put in place a transitional arrangement to give firms time to comply with the New Rules…

If you are a principal firm or Appointed Representative, Cleveland & Co External in-house counsel™, your specialist outsourced legal team, are here to help.

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