Appointed representatives – it's time to get serious

Jon Sperrin Jon Sperrin

The Financial Conduct Authority (FCA) outlines actions for insurance firms to take in the control and oversight of their appointed representatives

The FCA's findings from its thematic review of appointed representatives (ARs) in the general insurance sector do not make pretty reading for principal firms and their approved persons.

It found that more than 50% of firms in the sample “could not consistently demonstrate that
they had effective
risk management and control frameworks to identify and manage the risks arising from their appointed representatives’ activities”.

We have outlined the key points in the attached briefing, which covers:

  • Key FCA concerns over shortcomings and actions to take
  • What the review means for you?
  • How we can help

For further help on this topic, please get in touch with the contacts in the briefing or visit our Insurance page for further information.