We work extensively with appointed representatives and provide a range of support services for principal firms who’ve appointed – or are looking to appoint – ARs.
Through our sister company Resolution Compliance (authorised and regulated by the Financial Conduct Authority under FRN 574048), we also act as principal to firms who choose to operate as ARs, so avoiding the need for direct FCA authorisation.
If you’re acting as a principal, you need to be absolutely clear about which activities your appointed representatives are permitted to undertake. Because they’re relying on your permissions, what your ARs do (or don’t do) is your regulatory responsibility.
Our expert team can help you understand your appointed representatives’ sources of business, clarifying where, for example, introducing might spill over into assisting. In the context of new definitions in IDD and changes to PERG, it’s particularly important to be clear about what constitutes a passive introduction.
We also provide a due diligence service on prospective ARs, and their approved persons, prior to appointment. We can review ARs’ documentation and help you develop risk-based monitoring plans and compliance infrastructures.
We also offer an outsourced audit service, either remotely or onsite, depending on the risk factors involved and your own requirements as principal.
Alternatively, if you’re looking to act as an appointed representative, our sister company Resolution Compliance can act as principal to your firm. It has permissions across corporate finance, insurance, fund marketing, financial advice, equity crowdfunding, and peer-2-peer lending.
For more on becoming an appointed representative, visit Resolution Compliance.
‘Resolution Compliance Limited is one of the leading providers of network solutions in the UK. Bringing years of industry experience, we provide total network solutions tailored to your offering.’
Our on-demand compliance software Compliance Star provides efficient and effective remote management of appointed representative firms, with real-time data collection and reporting. This improves overall regulatory oversight for the principal and provides an improved experience for the appointed representative firm.
How we can help