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NEWSLETTER: As we highlight below, the FCA’s focus on the Appointed Representative regime continues apace. It is worth noting that a regime that was originally intended to cater for sales agents (“representatives”) of retail product providers has, over the years, evolved into a regime under which unauthorised entities can “rent” permissions from principal firms.
Surprising as it may seem, the FCA appears content with this direction of travel subject to principal firms significantly raising their game in a number of areas. The way in which principal firms respond to the FCA’s concerns will define where this regime goes from here.
Also this month, we reflect on what the new Consumer Duty will really mean as well as looking at learnings from last month’s conflicts of interest fine and a few final checks to do as we say farewell to LIBOR.
All the best,
Ben Blackett-Ord
Founder & CEO
