Appointed Reps in the UK

[trismes]

Picking the brains of anyone UK-based out there.
Given a strategy and a potential investor (s), what's the simplest solution to set yourself up as a fund given lack of FCA creds? There are dozens of umbrella services in the UK offering an appointed rep route - has anyone experience of these, and if so, what should I be on the look out for?

 

[ZBZB]

Interactive brokers friends and family account lets you trade or invest for 16 IB accounts without registering with any investment authority.

 

[trismes]

From what I've seen - and good luck getting an IB rep to reply comprehensively - this is no longer available to UK residents. Family is - but friends no. I presume something to do with changes in AIFM regs but if anyone can confirm. I've accounts of others saying not possible in your jurisdiction etc.

 

[globalarbtrader]

Picking the brains of anyone UK-based out there.
Given a strategy and a potential investor (s), what's the simplest solution to set yourself up as a fund given lack of FCA creds? There are dozens of umbrella services in the UK offering an appointed rep route - has anyone experience of these, and if so, what should I be on the look out for?

Any such service would basically be allowing you to break the law. You *might* be ok if you were managing the money for free - I would imagine a limited company trading account would be the easiest way to do this and a few brokers offer it.

GAT

 

[trismes]

Any such service would basically be allowing you to break the law. You *might* be ok if you were managing the money for free - I would imagine a limited company trading account would be the easiest way to do this and a few brokers offer it.

GAT

Not sure that's right - the right to be able to appoint an AR for the principal is baked into FSMA 2000, and some of these firms have been doing it for decades. Principal appoints, FCA still has to vet the representative, but they take legal ownership of what you do.

Someone round here must have used this route before... and before I go calling, I'd just like a bit of sanity check from anyone who's seen how they operate.