Appointed Representatives and Principal Firms
Firms that become authorised by the FCA may extend authorised permissions to third party firms. These are known as ‘Appointed Representatives’.
Firms that become authorised by the FCA may extend authorised permissions to third party firms. These are known as ‘Appointed Representatives’. In having an AR, an authorised firm would be understood as the Principal firm. Many firms start as Appointed Representatives before seeking direct authorisation from the FCA.
How can MEMA help you?
Interested in becoming authorised by the FCA or maintaining compliance as an FCA authorised firm? MEMA can help, whether it is for FCA authorisations, or ongoing compliance needs.
Appointed Representatives and Principal Firms
Some firms that are authorised by the FCA can enter into an agreement enabling one or more non FCA-authorised firms to conduct regulated activity without first obtaining permission from the FCA. The FCA Authorised firm in this type of relationship is known as the Principal Firm whilst the other party is known as an Appointed Representative.
The nature of these relationships means that the Principal Firm is accountable to the FCA for ensuring the Appointed Representative complies with the FCA’s rules. For that reason, it normally comes at a cost to the Appointed Representative.
Many firms start as Appointed Representatives before seeking direct authorisation from the FCA, although this is not required.
For more information on Appointed Representatives and Principal Firms please click here.
Ongoing FCA Compliance
As an FCA authorised person or firm, you might need help to ensure you comply with the FCA’s rules.
We provide our clients with support they need to maintain compliance and avoid breaching the rules. Our bespoke service is individually tailored to each of our client’s requirements and objectives to help them meet in the best way possible.
Whether you need documentation to help you remain compliant, want ongoing advice or support, impartial monitoring of your activities or anything else, MEMA may be able to help.
Why Choose MEMA?
MEMA has been supporting firms through the FCA compliance process since 2019. In that time, we have helped hundreds of businesses to successfully gain and retain FCA authorisation.
We have a unique blend of experience from ex-regulators, big 4 consultants and fin/regtech specialisation. Our team is highly experienced and expertly skilled. We specialise in providing our clients with solutions to often complex regulatory requirements and compliance needs.
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Your key contacts
Ademola is an accomplished consultant with over a decade of experience across regulation, banking, and consumer credit. As MEMA Consultants co-founder, he leverages extensive regulatory expertise to guide clients through critical processes and full compliance. His experience across sectors enables tailored solutions to complex business challenges. Ademola partners with clients as a strategic advisor to help futureproof their business through an in-depth understanding of the regulatory landscape.
Misah is a director at MEMA Consultants with over a decade of experience in financial services. Holding a legal background and postgraduate qualification, she previously worked at the Financial Conduct Authority. Misah has led compliance transformation for global consumer services organisations across Europe, the Caribbean, and Latin America. Her expertise includes implementing compliance frameworks for financial regulations, FCPA, UK Bribery Act, data privacy, and Sarbanes-Oxley. Misah is skilled at advising clients on operational and strategic projects, leveraging her in-depth knowledge of regulatory environments to deliver solutions tailored to complex business needs.