Brooklands provides regulatory hosting under the Appointed Representative Regime
Our FCA authorised and regulated manager enables you to perform regulated activities in accordance with FCA rules and regulations but without the burden of obtaining your own regulatory licence.
Brooklands assumes your regulatory risks and liabilities enabling you to focus on delivering your core services to your clients.
Appointed Representative Regime
As an Appointed Representative, your firm and its individuals can leverage from the Brooklands Compliance Infrastructure including the Compliance Manual, Policies and Procedures, Compliance Professionals and a dedicated Compliance Portal.
The Appointed Representative Regime reduces the barriers to entry both in terms of time scale to authorisation and costs.
Overview of the Appointed Representative Regime
UK entities must hold regulatory authorisation from the FCA in order to conduct regulated activities.
Authorisation can be obtained by holding an independent FCA licence as an authorised regulated firm or by becoming an Appointed Representative of an FCA regulated Principal.
The Principal “sponsors” the Appointed Representative to perform regulated activities under their FCA Licence.
The Appointed Representative falls underneath the regulatory umbrella of its Principal leveraging from their Compliance infrastructure.
Appointed Representatives are not subject to the same requirements as independently authorised firms and are not directly responsible to the FCA.
Individuals acting on behalf of an Appointed Representative are directly responsible to the FCA.
What Services can be performed by Appointed Representatives?
Business Activities: Investment Research ; Investment Advisory; Corporate Finance Advisory ;Third Party Marketing; Placement Agent.
Regulatory Activities (permissions): Arranging Deals in Investments; Making Introductions; Providing Investment Advice; Issuing Financial Promotions; Marketing Investment Vehicles.
Benefits of Regulatory Hosting
Reduce time to market
Reduced Operational Burden
Obligations under a FCA Umbrella
Individuals performing Regulated Activities
Individuals who perform the regulated activities under a FCA umbrella require CF30 Customer (AR) authorisation.
Brooklands require Individuals performing Regulated Activities to confirm on a monthly basis that they have complied with the Compliance Manual, Policies and Procedures.
Brooklands require Individuals performing Regulated Activities to submit relevant filings in compliance with the Compliance Manual, Policies and Procedures.
Directors of an Appointed Representative
Individuals who act as an Executive Director of a firm under a FCA umbrella require CF1 Director (AR) authorisation Brooklands require Directors of Appointed Representative to confirm on a monthly basis that the Appointed Representative complied with the Compliance Manual, Policies and Procedures.
Brooklands require Directors under a FCA
Monthly undertakings and submissions are made through your dedicated compliance portal
A Dedicated Compliance Portal
The Brooklands Compliance Portal enables you to fulfil your regulatory requirements:
• The Brooklands Portal provides you with one interface to fulfil all your regulatory obligations
• The Portal is the hub to receive Compliance documentation, updates and to submit all your declarations
When a firm carries out regulated activities, they have to be authorised directly by the Financial Conduct Authority (FCA) or indirectly as an Appointed Representatives of a Principal firm.
The Principal firm is responsible for monitoring all regulated activities at the Appointed Representatives level and therefore needs the expertise to supervise them properly. At Brooklands we have the necessary knowledge, resources and systems to oversee our Appointed Representatives.
Our appointed representative services
Our appointed representative services are dedicated to firms that provide services such as investment advisory, third party marketing, introductions, arranging deals in Investment etc.
Brooklands provide a bespoke Service to all its Appointed Representatives in accordance to their activities and needs. We leverage from a customised compliance platform to optimised exchanges, oversight and monitoring while having an audit Trail of all interactions.
The compliance team is also available at any time for when Appointed Representatives need regulatory advice or guidance.
What is an Appointed Representative?
An Appointed Representative is a firm who runs regulated activities and acts as an agent for a firm the Financial Conduct Authority (FCA) directly authorises. This firm is known as the Appointed Representative’s principal. There must be a written contract between the principal and the Appointed Representative documenting their arrangement. it is important to note that the principal firm takes full responsibility for ensuring that the Appointed Representative complies with rules set by the regulator, the Financial Conduct Authority. If an Appointed Representative would like to conduct regulated activities outside of their normal scope, then they will need to become authorised in their own right.
What is a Principal Firm?
A “Principal Firm” is a firm who carries out regulated activities. Financial services providers and investment firms who are directly authorised by the Financial Conduct Authority (FCA) may “host” Appointed Representatives under their licence providing authorisation for the Appointed Representatives to conduct specified regulated activities.