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

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 principals to provide the regulator with more information on their ARs, which the FCA stated wo...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

NHS launches 10-year health plan

NHS launches 10-year health plan

“Reform or die”

Jaskeet Briah
clock 03 July 2025 • 5 min read
CII calls for new approach to vulnerability data sharing

CII calls for new approach to vulnerability data sharing

Many firms displaying “excessive caution”

Jaskeet Briah
clock 25 June 2025 • 2 min read
IPT receipts hit £1.48bn in May 2025

IPT receipts hit £1.48bn in May 2025

Up £50m year-on-year

Jaskeet Briah
clock 20 June 2025 • 2 min read