• Doing business with the FSA
  • Being regulated
    • Notifications and applications
      • Appointed representatives

The definition of an appointed representative is set out in s39 of The Financial Services and Markets Act 2000 (FSMA) and is contained in the Glossary to the FSA Handbook.

For further information see:

• Do I need to be authorised?; and
• Appointed representatives and tied agents.

Notification requirements

Under s19 of The Financial Services and Markets Act, no person may carry on a regulated activity in the UK unless he is an authorised or exempt person under FSMA. 

A person may be exempt if he is an appointed representative (as defined in s39 FSMA).  An appointed representative is allowed to carry on certain regulated activities by an authorised firm (his Principal) under a contract by which the Principal accepts responsibility for the regulated activities carried on by its appointed representative(s).

For an authorised firm that is considering appointing an appointed representative, SUP12 of the FSA Handbook gives detailed guidance of the conditions which must be satisfied before an appointed representative can be appointed and the implications of this appointment for the authorised firm.

It is the responsibility of an authorised firm to ensure that its appointed representatives are fit and proper to deal with clients on behalf of the authorised firm. 

It is also the authorised firm’s responsibility to ensure that any clients dealing with its appointed representative(s) have the same level of protection as if they had dealt direct with the authorised firm.

A firm which appoints an appointed representative must give written notice of the appointment to the FSA.  Further details can be found in SUP12.  On receipt of this notification, the FSA will update the firm’s entry on the FSA Register to include the information relating to the appointed representative.

The FSA carries out certain checks before updating the FSA Register of this notification which include:

• whether the appointed representative is an existing appointed representative and, if so, whether active and linked to another firm.
• whether the appointed representative is an authorised firm.  If this is the case, the firm will be contacted to inform them that the notification cannot be actioned until the firm has cancelled its authorisation as  an authorised firm can not be authorised and exempt at the same time.
• whether there is any intelligence information within the FSA relating to the appointed representative.  If so, this would be investigated and considered.

If you have any queries or need more information on appointed representatives, then please contact our helpline on 020 7066 0019 or email appreps@fsa.gov.uk.  Further information is also available under Do I need to be authorised?.