FSA calls for networks to improve control over appointed representatives
The Financial Services Authority (FSA) has called for retail networks to improve their supervision of Appointed Representatives (ARs). An FSA survey found a number of potential shortcomings in areas such as the level of compliance resource in Principal firms, quality of desk checks and field visits to check ARs' compliance.
It also highlighted the use of computer systems for monitoring ARs and how far networks operated a risk-based approach to monitoring of ARs.
The FSA has published a factsheet on how networks can
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