Frequently Asked Questions

Drawing on decades of in house investment management and regulatory compliance expertise, we have collated a collection of the most asked questions in our industry.

What is an Appointed Representative?

An Appointed Representative in the UK conducts regulated activities under a directly authorised firm by the Financial Conduct Authority (FCA). The principal firm assumes full responsibility for ensuring the Appointed Representative’s compliance with relevant regulations.

Which service is right for us?

Our AR platform offers essential coverage for clients involved in marketing, advising, and/or arranging investments, ensuring regulatory compliance. However, for those desiring direct control over fund management activities, further support is available through our Investment Management (AFIM/MiFID) platform. For personalised guidance, discuss your unique requirements with our team, and we’ll steer you toward the service that aligns best with your objectives.

What is the timeline for an AR to offer services under this framework?

Regulated activities through a full FCA Application typically take 6-12 months, barring complications. Panima’s Regulatory Hosting platform, however, expedites the process, enabling most clients to engage in regulated activities within 6-8 weeks.

Who needs an AIFM?

EU and non-EU investment managers who are looking to set up and distribute AIFs to European professional investors will need an AIFM. Any individual or entity targeting European professional investors will be subject to AIFMD regulations and will require an AIFM in place before going live with their fund, whether it is their own proprietary AIFM or a third-party AIFM.

How does the AIF/AIFM structure work?

AIF, or Alternative Investment Fund, is a collective investment fund that raises capital from professional investors and invests it based on a specified strategy or policy. The AIFM, a regulated entity, is responsible for managing the AIF, handling portfolio and risk management.

What are the responsibilities of the Principal Firm?

Principal Firms must thoroughly assess potential Appointed Representatives (ARs) to verify their financial stability and competence in conducting regulated activities. The Principal firm bears responsibility for the AR’s services and products, ensuring compliance with the Principal firm’s standards. The Principal is actively involved in establishing the AR’s compliance infrastructure, offering necessary support, and overseeing the required monitoring.

Which jurisdictions are relevant to permissions

Our Regulatory Platform is designed for UK-regulated activities only. Due to the discontinuation of MiFID passport rights post-Brexit, we may not cover activities outside the UK, as regulations vary across EU member states.

Which jurisdictions are relevant to permissions

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