Context
The FCA, in its latest regulatory Round Up e-mail, has reminded firms that its new rules for Appointed Representatives (ARs) come into force on 8th December 2022. As part of the improved reporting requirements, the FCA will be sending Principal firms a Section 165 request requiring information about their ARs. Firms should receive this between 8th and 10th December 2022.
Key points to note
- New AR notification forms also come into force with effect from 8th December.
- The S165 request will go to the Principal User on Connect; therefore, firms should ensure this data is up to date.
- Firms will have until 28th February 2023 to respond.
Next actions
None – for information and awareness.