The FCA has made clear its intention to step up its supervision of Appointed Representative Networks with a number of changes being introduced in 2022.
At the heart of the new regime is the requirement for Principals to carry out significantly more oversight of their ARs, and be able to evidence this to the FCA on request.
This can be very difficult to achieve without a robust technology solution.
Principals need to have a clear oversight process, including ongoing compliance monitoring, managing AR attestations, annual reviews and more.
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