Association of Professional Compliance Consultants

The body for compliance consultants who advise firms regulated in the UK.

The APCC is active in enhancing the professional standards of compliance consultants and is recognised as a trade body by the FCA and other regulators. This provides our members with significant benefits in terms of direct access to the Regulators as well as business leads.  The APCC often works in conjunction with the FCA to pilot or test new initiatives, and we also provide with valuable feedback on specific subjects as requested by them.

FCA confirms new rules to improve oversight of Appointed Representatives

FCA confirms new rules to improve oversight of Appointed Representatives

 

Today we’ve published new rules to make authorised financial firms more responsible for their appointed representatives (ARs). The changes will help prevent consumers being mis-sold or mis-led by ARs and protect market integrity.

 

ARs can bring innovation and choice, but poor oversight from principals can put consumers at risk. We want principals to do a better job of overseeing the ARs they appoint, and to provide us with more regular data to help us identify and tackle harm earlier. As part of our enhanced reporting requirements, principal firms should expect to receive a Section 165 data request from us later in the year.         

                                                                                                                                     

The changes will take effect on 8 December 2022 – principals should read our updated rules and expectations and take any necessary steps to be ready to comply.

 

For more information, please see our press release and policy statement.