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Tied agent definition

What does Tied agent mean? A tied agent is an intermediary that acts exclusively for a single investment firm, promoting and distributing that firm’s investment services and products and dealing with clients on the firm’s behalf. The term is defined in financial services legislation: in the UK’s onshored MiFID framework and in Ireland’s MiFID II Regulations, a tied agent is a natural or legal person who, under the full and unconditional responsibility of one investment firm, promotes investment and/or ancillary services, receives and transmits orders, places financial instruments, or provides investment advice. A tied agent is not necessarily an employee. It operates under the...

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UK FCA post-Brexit regime for tied agents and FCA-registered tied agents: definition, appointment, obligations, notifications, termination and record-keeping

Practice notes
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This Practice Note sets out the post‑Brexit requirements of the Financial Conduct Authority (FCA) regarding Tied agents, including those recorded as FCA‑registered tied agents, and addresses, in particular, (1) the FCA meaning of a tied agent, (2) UK obligations for firms that appoint tied agents, (3) notification requirements, (4) termination requirements, and (5) record‑keeping requirements. For details on the appointed representative (AR) regime, see the following Practice Notes:

  • Appointed representatives
  • A principal's responsibility for its appointed representatives
  • Multiple principals and appointed representatives
  • Contract requirements for appointed representatives

For further information on the EU regime for tied agents, see Practice Note: EU tied agents.

FCA definition of a tied agent

Within the FCA Handbook, a tied agent means a person who acts for, and under the responsibility of, a MiFID investment firm (or a third‑country investment firm) in relation to MiFID business (or the equivalent business of the third‑country investment firm). Chapter 12 of the Supervision manual (SUP) in the FCA Handbook applies to tied agents that are appointed by a MiFID investment firm. A tied agent is comparable to an AR under the Financial Services and Markets Act 2000 (FSMA 2000)...

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Web page updated on 22/05/2026

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