Q – What should I consider if I want to become a regulated firm?
A – If you are considering becoming a regulated firm for investment activities, the main points you need to consider are:
- PRIN – The Principles of Business.
- SYSC – Senior Management Arrangement, Systems and Controls.
- COND – Threshold Conditions
- APER – Statements of Principle and Code of Practice for Approved Persons
- FIT – The Fit and Proper Test for Approved Persons
- GEN – General Provisions
- FEES: Fees Manual
- IPRU(INV): The Interim Prudential Sourcebook for Investment Businesses
- COBS: Conduct of Business
- CASS: Client Assets
- SUP: Supervision
- DEPP: Decision Procedures and Penalties
- DISP: Dispute Resolution: Complaints
- PERG: The Perimeter Guidance Manual
- FC: Financial Crime: a guide for firms
- UNFCOG: The Unfair Contract Terms Regulatory Guide
This information is taken from the FCA website and if you would like further details, please visit this page – FCA Summary for Rules for Loan Based Crowd Funding
Q: What documents do I need to become an Appointed Representative?
A: For the Firm:
- Certificate of Incorporation
- Data Protection Number
- Professional Indemnity insurance
- Articles of association for a limited company
- Proof you are on the PSC Register in Companies House
A: Individuals within the firm:
- Short Business Plan
- A CV
- A DBS Check
- References covering past 5 years of employment X 2
- Close Links
- Any special circumstances we should know about your current or past
Click the link if you would like more information about Appointed Representatives.