FCA looks to strengthen appointed representative oversight regime

“The level of harm we are currently seeing is too high”

John Brazier
clock • 1 min read
FCA looks to strengthen appointed representative oversight regime

The Financial Conduct Authority (FCA) has launched a consultation proposing stronger to regime overseeing appointed representatives (ARs) across financial services sectors.

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...

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