FCA looks to strengthen appointed representative oversight regime

The regulator noted that it is seeing "a wide range of harm" across sectors where ARs are active, often due to a lack of due diligence before confirming an appointment or from inadequate oversight and/or control following the appointment of an AR. The FCA has proposed changes to its AR oversight regime aimed at addressing issues of harm while "retaining the cost, competition and innovation benefits the AR model can provide." The changes would further principal's oversight of ARs and require principals to provide the regulator with more information on their ARs, which the FCA stated wo...