Context
In its most recent Regulatory Round-Up e-mail, the FCA has communicated changes to the Appointed Representative Notification process.
Key points to note
- From 16th September 2021, Principal firms submitting Appointed Representative notifications via Connect will be required to submit an accompanying Form A, individual application (CF1 AR) and / or (CF 30 AR) simultaneously.
- The amended process will combine Add Appointed Representative notifications with the requirement for firms to submit a Form A application.
- This will allow the FCA to integrate both assessments simultaneously, those being the suitability of the Appointed Representatives and the fitness and propriety / overall regulatory conduct of the individual.
- Exemptions to the process include Introducer Appointed Representative notifications, Changes to Appointed Representatives and Sole Trader notifications.
Next actions
None – for information and awareness