Oversight the FCA can read.
Annual and triggered reviews of each appointed representative, the governing body's self-assessment document, scope control and the records to prove it.
The obligations
- Suitability on a continuing basis (SUP 12.4.2R)
- An annual review of each AR other than introducer ARs (SUP 12.6A.2R) and reviews on triggers (SUP 12.6A.3R)
- Written records of each review (SUP 12.6A.4R)
- The self-assessment document approved by the governing body each year (SUP 12.6A.6R)
- Contract scope (SUP 12.5.6AR)
- Records for each AR (SUP 12.9.1R)
Questions
Short answers, with the provision each one rests on.
How often must a principal review each appointed representative?
At least once every 12 months for each appointed representative other than an introducer appointed representative (SUP 12.6A.2R), and also when a trigger in SUP 12.6A.3R arises.
Talk to someone who has done your job.
A 30-minute call, no deck. Bring the problem; we will tell you what we would do.