Consultation: The Appointed Representatives Regime

The Appointed Representatives regime plays an important part in the supply of financial services and provides substantial benefits to consumers and businesses. It supports innovation and competition by allowing firms to access financial services markets without the regulatory burden and cost of becoming authorised. It can help enhance the customer experience by enabling a range of non-financial businesses to offer complementary financial services alongside their core products.

However, as explained in the policy statement published in August 2025, there is concern that poor oversight of some Appointed Representatives is putting some consumers at risk. The government intends to address this concern so consumers and businesses can have confidence in the regime and so that the benefits provided by Appointed Representatives can continue well into the future.

In line with the commitment made in the August policy statement, this consultation seeks views on the changes the government proposes to make to the legislative framework for Appointed Representatives.