..as an Appointed Representative and you don't need to report data to the FCA or pay FCA fees and we take responsibility for your compliance
Being an Appointed Representative has the following advantages:
- You don't have to apply to the FCA for Authorisation
- You can't be directly fined or censured by the FCA
- You don't have to report data to the FCA through their Gabriel system
- You don't pay FCA fees
- Your Principal takes responsibility for your regulatory conduct and supplies you with the necessary systems, processes and compliance programmes to ensure you remain compliant
- You benefit from best practice learnings from the Principal and other ARs
An Appointed Representative can act in the same way as a directly authorised business; advising customers, completing finance proposals, advertising finance and receiving commission. As an Appointed Representative of Product Partnerships for consumer credit activities, you can still choose your finance provider as long as they are correctly authorised and comply with all FCA regulations.
If you would like to become an Appointed Representative simply get in touch and subject to certain criteria, we can have you set up and doing business within a matter of days.