Appointed representative

Broadly, a person (other than an authorised person ( www.practicallaw.com/6-107-6454) ) who:

  • Is party to a contract with an authorised person (his principal) which permits or requires him to carry on business of a description prescribed in the Appointed Representatives Regulations and the contract complies with the requirements of those Regulations; and

  • Is someone for whose activities his principal has accepted responsibility in writing .

An appointed representative is an exempt person ( www.practicallaw.com/5-107-6586) in relation to a regulated activity ( www.practicallaw.com/1-107-7125) comprised in the carrying on of that business for which his principal has accepted responsibility (see section 39, Financial Services and Markets Act 2000 ( www.practicallaw.com/7-107-5760) ).

The glossary to the FCA Handbook ( www.practicallaw.com/5-107-6609) sets out the full definition of this term. When considering this term in the context of financial services, reference should be made to the FCA Handbook glossary definition of appointed representative.

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