Appointed Representatives: The enhanced regime following lessons from Greensill Capital
Following publication of the Treasury Select Committee’s report in 2021 on Lessons from Greensill Capital, the TSC made a series of recommendations for the FCA and HM Treasury to consider. These included reforms to the Appointed Representatives regime that was first introduced in 1986, with a view to limiting the scope of the regime and accordingly reducing opportunities for misuse.
4-5 Gray's Inn Square's Rowena Wisniewska and Lewis Silkin's Wendy Saunders outline the background to the Appointed Representatives (AR) scheme, the key changes and what Principal Firms can expect going forward.