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ARTICLE · 18 AUGUST 2025

Mind The Gap(s)! HM Treasury Policy Statement On The Appointed Representatives Regime

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The appointed representatives regime has been around longer than many of us might realise, having been introduced in 1986, and so predating our beloved Financial Services and Markets Act 2000...

United StatesFinance and Banking
Jean Price
Jean Price
Louise Bralsford
Louise Bralsford
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The Appointed Representatives (AR) regime has been around longer than many of us might realize, having been introduced in 1986, and so predating our beloved Financial Services and Markets Act 2000 (FSMA) by some years. No doubt, it seemed like a sensible proposition: a cost-effective way to provide financial services for those without the inclination or resources to seek authorization, under the sheltering umbrella of a regulated principal. And firms would, of course, take their responsibilities as principal very seriously, given that they were, and are, liable for the acts and omissions of their ARs (and were charging their ARs for the privilege of being appointed).

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