Appointed Representatives Regulatory Responsibilities
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20 Minutes -
For all staff
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UK
The FCA expects firms to ensure their appointed representatives understand the relevant provisions of the FCA Handbook. This 20-minute course outlines the regulatory responsibilities an appointed representative carries, explaining the Principles for Businesses and their relevance, exploring risk management techniques, addressing the Consumer Duty, and covering the rules that govern the AR relationship.
The FCA has repeatedly found principals exercising insufficient oversight of their AR networks, and the principal answers for the AR's conduct. ARs frequently operate at a distance with limited compliance infrastructure of their own. Training them directly is one of the clearest ways a principal can evidence the oversight the regulator expects, and it reduces the conduct risk sitting outside the firm's own walls.
What you’ll learn in
this course
- Explain the FCA's Principles for Businesses and how they are relevant
- Explore risk management techniquesDiscuss the Consumer Duty
- Explain the rules surrounding financial crime and anti-money laundering
- Understand why effective handing of complaints is important
- Discuss the importance of record keeping and the provision of management information (MI) to the principal firm, and how timely, accurate and relevant MI assists oversight from the principal firm
- Understand why maintaining knowledge and competence leads to good customer outcomes