FCA's new 'appointed representative' fee comes in for criticism

News Team, 26/05/2021

Wealth management trade body PIMFA has criticised Financial Conduct Authority (FCA) plans to levy a new fee against firms with appointed representatives, saying more transparency is needed.

Appointed representatives (ARs), a regulatory mechanism through which people and firms can act as agents for directly-supervised firms, have come under scrutiny in the wake of the Greensill collapse.

Greensill had piggy-backed into the UK market via American-owned ACA Mirabella, which has a bu...

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