From appointed representative to its own FCA authorisation
A firm trading as an appointed representative wanted its own FCA authorisation. MEMA supported the controls it ran for its principal, then its application to be authorised directly.
- AuthorisedDirectly by the FCA
The challenge
As an appointed representative, the firm operated under its principal's permissions and had to run controls that satisfied its principal. It then wanted to be authorised by the FCA directly.
Regulatory context
Under the appointed representative regime, the principal firm takes regulatory responsibility for its AR. Moving to direct authorisation means the firm must meet the FCA's threshold conditions in its own right, with its own governance, controls and resources.
What we did
- Supported the controls the firm provided to its principal
- Supported the firm through its application for direct authorisation
The outcome
The firm moved from appointed representative status to direct FCA authorisation.
From a review on Trustpilot
“We have had the pleasure of working with MEMA now for several years. Their expertise and client service is second to none. Every single time they have delivered with excellence, and they are an important part of how our business operates. Without hesitation, I highly recommend them.”
What clients say about working with MEMA: a review of our work in general, not of this engagement.
Client details are presented to protect confidentiality. Outcomes reflect specific engagements and are not a guarantee of results, as every firm's circumstances differ.
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