A conversation with the experts

The rent vs. buy approach for asset managers seeking FCA authorisation

 

This insightful discussion with regulatory industry experts looks at the directly authorised ‘buy’ vs appointed 
representative (AR) ‘rent’ approach for asset managers seeking Financial Conduct Authority (FCA) authorisation. 
We explore the key considerations surrounding these two authorisation routes as our panel of experts help you 
navigate the complex landscape of regulatory compliance.

The services discussed in this Q&A are provided by Newgate Compliance and Aldgate Advisers Limited, subsidiaries of Ocorian.

 

Areas of focus 

  • The key differences between the directly authorised and the AR model 
  • The decision making process behind selecting an authorisation route 
  • The risks and opportunities of each regulatory route   
  • The revised FCA regulations around ARs 
  • The onboarding processes and financial implications of each route 
  • Regulatory and operational challenges faced when transitioning from an AR to directly authorised

 

 

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Meet the regulatory experts

Ocorian_Haydon Thomas Circle

Haydon Thomas
Director – Newgate Compliance 

Haydon Thomas is a seasoned professional with over a decade of regulatory expertise. He served as a supervisor at the FCA, where he led reviews of corporate authorisation applications for a diverse range of market sectors. Haydon holds the Investment Management Certificate, the Full Financial Planning Certificate, and has passed the Association of Chartered Insurance Institute exams. He joined Newgate in 2015 as director of regulatory transactions and leads on taking asset managers through the direct authorisation process at Newgate. 

Ocorian_Nimish Shah Circle

Nimish Shah
Senior Consultant - Newgate Compliance 

Nimish Shah joined Newgate in July 2022 from the FCA, where he worked in wholesale supervision for seven years. Prior to his regulatory career, Nimish was an equity specialist with experience in fund management for a UK insurance firm, equity sales trading at Cantor Fitzgerald, and institutional equity sales at Credit Suisse and Piper Jaffray. Nimish now leads Newgate’s appointed representative hosting business (Aldgate), handling client development, onboarding and monitoring.

 

Ocorian_Phil Vipond Circle

Phil Vipond
Partner - EVMS Partners 

Phil is a founding partner of EVMS and has over 20 years’ experience as a qualified accountant, auditor and advisor to FCA-regulated entities and other UK SMEs. Phil was previously a partner at Rees Pollock and Blick Rothenberg, before setting up EVMS partners. EVMS Partners specialises in assisting asset management firms at all stages, from startups to multi-billion-dollar managers.

 

Ocorian_Tom Spraggs Circle

Tom Spraggs
Financial Institutions Team Leader - Protean Risk 

Tom is a member of the Executive Committee and a Team Leader within the Financial Institutions team, which delivers technical expertise, insurance 
solutions, and a client centric service to firms in the financial services sector. He has over a decade of experience with a specialisation in Asset Management and works closely with clients to offer them a bespoke solution tailored to their needs. Tom holds a certification from the Chartered Insurance Institute and a Diploma in Insurance. Protean Risk offers insurance solutions for firms in the investment industry, financial services, and technology sectors, such as PSD2 Safeguarding, cyber and data risks, directors’ and officers’ liability, and professional indemnity.

 

Who are Newgate Compliance?  

Newgate Compliance (UK and Channel Islands) are a compliance consultancy service delivering innovative, pragmatic compliance and regulatory solutions. Newgate have supported over 200+wholesale clients obtain FCA direct authorisation by a team of many ex-regulators who can help navigate the technical minefield of financial modelling.

Who are Aldgate Advisers Limited?  

Aldgate Advisers Limited is a sister company of Newgate Compliance staffed by the same team of ex-regulators. Aldgate’s regulatory licencing solution allows you to go to market quickly under their regulatory umbrella acting as a principal firm you can rely on.