The Financial Conduct Authority has committed to a crackdown on appointed representatives.

At last we finally know who was to blame for all the faults in the financial advisory sector over the past 20 years - it was the appointed reps all the time. Or was it?

The FCA is consulting on plans to significantly strengthen regulation of appointed representatives (ARs) after analysis showed firms employing appointed reps suffered four times as many complaints as firms not using appointed reps.