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Key facts about HMT policy statement on appointed representatives regime

A general view across Royal Victoria Dock with Chase, J.P.Morgan, Citi, HSBC and Barclays bank skyscrapers in Canary Wharf and the IFS Cloud Cable Car on March 11, 2025 in London, United Kingdom.
Photo: John Keeble/Getty Images

Tim Fosh | Eversheds Sutherland, Julia Neal | Eversheds Sutherland, Sumitra Subramanian | Eversheds Sutherland, Thomas E. Pritchard | Eversheds Sutherland+2

5 min read
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HMT is proposing a regulatory gateway requiring authorized firms acting as principals to ARs to have specific FCA permission.

Following a December 2021 call for evidence, the UK Government is planning to require principal firms to have specific FCA permission to act as a principal (or host) and to extend the coverage of the Financial Ombudsman Service (FOS) to cover all activities of ARs.

The HM Treasury (HMT) has

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