A person may be exempt if he is an appointed representative (as defined in s39 FSMA). An appointed representative is allowed to carry on certain regulated activities by an authorised firm (his Principal) under a contract by which the Principal accepts responsibility for the regulated activities carried on by its appointed representative(s). FSA source
A financial services firm authorised in another European Economic Area (EEA) state can offer certain products or services in the UK and other EEA countries, if it has a ‘passport’ to do so. The EEA includes the EU states, plus Iceland, Norway and Liechtenstein. These firms are regulated in their home country and must meet
Does a recent question and answer session in the House of Lords suggest a volte face on the retail distribution review (RDR)? As the Treasury Select Committee’s review of the FSA’s retail distribution review (RDR) continues, attracting more than 200 submissions, a question and answer session in the House of Lords has confirmed that firms