Reference Case Number: FOI9752
Freedom of Information: Right to know request:
Information on Principals and Appointed Representatives.
FCA response:
We have processed your email in line with the provisions of the Freedom of Information Act 2000 (FOIA) and our response is below.
Q1. In each of the last five years:
a) How many authorised firms were Principals who had Appointed Representatives?
b) How many Principals had Introducer Appointed Representatives?
c) How many Principals had both Appointed Representatives and Introducer Appointed Representatives?
Please see on the table below the data for the number of Principals that includes the following:
- Only Appointed Representatives (ARs);
- Only Introducer Appointed Representatives (IARs); and,
- Have both ARs and IARs.
The data was extracted from the Financial Services Register, and is accurate as at 31 October 2022.
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
|---|---|---|---|---|---|
|
IARs |
606 |
637 |
658 |
660 |
656 |
|
ARs |
2322 |
2288 |
2302 |
2285 |
2151 |
|
AR & IAR |
637 |
633 |
604 |
503 |
456 |
|
Total |
3565 |
3558 |
3564 |
3448 |
3263 |
d) How many Principals did the FCA regard as Regulatory Hosts?
We don’t hold information responsive to this part of your request.
Between 8 and 12 December 2022, we will be issuing a S165 request to all Principal firms requiring them to provide details of their Appointed Representatives, and to confirm whether they are currently a regulatory host. Further details of this request can be found here https://landmark-phase.live/firms/appointed-representatives-principals%3Cspan class="print-footnote">[1].
In addition, enhanced reporting requirements will take effect from 8 December 2022. From this date where Principals intend to start offering regulatory hosting, they will be required to notify the FCA at least 60 days in advance.
e) How many S166s were commissioned into a Principal’s oversight of Appointed Representatives?
We confirm we do not hold this information in a ready extractable format. We are of the view that the amount of analysis and reconciliation needed to provide this information would be equivalent to creating new information, which we are not required to do so under the FOIA.
Q2. How many Principals have been instructed to remove an Appointed Representative, and what was the reason for their removal?
Please see our response above to question Q1 (e).