FCA reveals final rules on appointed representatives
The FCA has confirmed new rules to make authorised financial firms more responsible for their appointed representatives.
The watchdog detailed that principal firms are responsible for ensuring their ARs comply with its rules.
It pointed out that, while some principals do this effectively, many do not adequately oversee the activities of their ARs.
The regulator believes that the new rules will help prevent consumers being mis-sold or mis-led by ARs and will prevent misconduct by ARs undermining markets operating fairly and safely. Under them, principal firms will need to:
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