📖 Glossary
Regulatory Host
A UK FCA-authorised firm that allows other firms to operate as its Appointed Representatives (ARs). The regulatory host provides the FCA authorisation while the AR conducts regulated activities under the host's permissions. Common in the fund management industry for managers building track record before seeking direct authorisation.
Context
Key regulatory hosts in the UK include Brooklands Fund Management, Carne Group, and Portman Square Capital. ARs increasingly need to demonstrate operational substance — including independent technology infrastructure — rather than relying entirely on their host's systems.
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