Appointed representatives (AR)
FCA warns lack of AR monitoring puts customers at risk
Regulator issues alert to principals after finding that some fail to undertake sufficient due diligence on ARs.
FCA proposes to extend the senior management regime to more firms
Under the proposals almost all regulated firms, including brokers, will have to comply with the senior management and certification regime.
FCA says intermediaries earned £15.9bn in 2016
Data from the regulator shows 5% increase in revenue since 2015 with commission the main source of income.
The FCA spent over £400,000 on AR thematic review
Review which found "significant shortcomings" cost the regulator £417,669.
Networks snapshot 2017: Plug in to the network
Insurance Age tests the network, AR and franchisor markets to find out what issues these growing sectors are expecting to face in the next 12 months
UK General ordered to review AR arrangements
It is believed that the insurer has stopped its appointed representatives (ARs) from selling general insurance products.
Ex-MD of Ten joins Momentum
Alistair Body switches appointed representative networks.
AR review slams “significant shortcomings”
Brokers react to FCA’s findings that oversight of appointed representatives is not up to scratch
FCA warns principals they will be accountable for ARs’ mistakes
Regulator informs firms of its expectations after its thematic review into supervision of appointed representatives revealed "significant shortcomings".
Brokers say FCA's AR attack “fair”
Experts say that brokers taking on appointed representatives need to be aware of the "huge responsibility".
AR network leaders welcome thematic review findings
Biba boss highlights that with an appointed rep a firm “is lending its regulatory permission to someone else and with that lending its name”.
FCA slams oversight of appointed representatives
Regulator finds “significant shortcomings” and orders two companies to stop sales activity.
Flood Excess Insurance launched
New AR compiles UK top 20 flood risk postcode districts.
Ten appoints Alistair Body as managing director
Network also adds Ray Heap as broker development manager.
Aon seeks ARs to expand SME broker distribution channel for affinity
Broker is inviting entrepreneurs to partner with the firm as appointed representatives.
TEn confirms launch plans for established brokers network
New offering set to start trading in January 2016.
Gauntlet adds three to AR network
New additions are based in Lancashire and Greater Manchester as well as on the South coast of England.
The Rise of the Appointed Representative
Howard Pepper, managing director at Momentum Broker Solutions examines the issues surrounding ARs.
Gauntlet takes on 14 appointed representatives
Leeds broker also employs appointed representative manager following growth.