The Government has confirmed its intention to preserve the Appointed Representatives (AR) model, while introducing targeted reforms to strengthen confidence in its use.
The AR regime enables firms to access financial markets without the cost and regulatory burden of direct authorisation, fostering innovation and competition. Many businesses use the regime to offer complementary financial services alongside their core products, bringing benefits to both consumers and businesses.
To protect consumers, the Government plans to implement proportionate legislative reforms to ensure the regime remains robust and trusted. These reforms will focus on improving oversight while preserving the advantages the regime provides.
The detail of the proposed reforms will be subject to consultation in due course.
Policy statement: The Appointed Representatives Regime - GOV.UK.
