Benefits of Regulatory Hosting.
Here at RiskSave, we operate a compliance support platform and a financial advice network. We aim to help innovative new firms get to market as quickly as possible so their innovations can immediately create tangible benefits for consumers.
We have a particular interest in helping groups under-represented in financial services. For example, we are proud to host Islamic Finance Guru, the leading source of financial information for the muslim community on our platform.
Our regulatory hosting platform allows selected clients to become Appointed Representatives of RiskSave. Appointed Representative or AR status has provided an efficient way for fintechs and asset managers to enter the UK financial services market without having to wait up to a year to obtain direct authorisation from the FCA.
In a nutshell, AR status creates an exemption from licensing requirements under the Financial Services and Markets Act 2000 (“FSMA”). Appointed Representatives are formally exempt persons with the regulatory host assuming responsibly to regulatory reporting and the relationship with the FCA. Although it should be noted that Appointed Reprsentatives are not permitted to perform the full range of regulated financial services activities.
When entering into an Appointed Representative agreement – your regulatory host or Principal firm will help ensure that you are complying with relevant regulatory requirements.
A principal firm (Regulatory Host) should:
Ensure regulatory compliance
Create a bespoke monitoring programme unique to your business model.
Ensure that investments are suitable and appropriate.
Review your marketing and financial promotions.
Enable you to grow.
If you are establishing a Financial Services firm. A regulatory host can help you establish and grow in a cost-effective manner.
The advantages are:
· Faster route to market.
· Market entry at a reduced cost.
· Outsourced Compliance expertise.
· Reduced execution risk.
If you are interested in learning more contact team@risksave.com