CPI Enterprises - FCA Appointed Representative

Tender description

This proposal covers the procurement process for CPI Enterprises Ltd (‘CPIE’) to engage with an Appointed Representative (“AR”) that acts as an authorised figure to the regulatory body to the Financial Conduct Authority ("FCA"). An Appointed Representative is a firm who runs FCA regulated activities by acting as an agent for CPIE who is directly authorised by the FCA. CPIE strategy is to become industry standard in terms of rules and regulation. This will also enable CPIE to raise external finance (ie an EIS investment vehicle). An AR is a firm who carries on a regulated activity or activities under the responsibility of an authorised financial services firm. The AR regime is a longstanding and widely used feature of UK financial services regulation. The regulatory regime around ARs is intended to provide a proportionate regulatory approach which ensures that principal firms maintain effective systems and controls for overseeing the regulated activities which ARs undertake. The regulatory framework for ARs puts responsibility on the principal to ensure its ARs are carrying on regulated activities with a sufficient level of competence and are meeting relevant regulatory requirements. The AR can provide compliance and risk support from the platforms in-house compliance team which reduces their compliance burden and allows them to focus on their core business activities