Jurisdiction(s):
United Kingdom
United Kingdom
Key definition
Agent definition What does Agent mean? In practice, an agent is someone authorised to act for a principal in dealings with third parties, typically to negotiate or conclude contracts and perform transactions on the principal’s behalf. Agency is primarily a common‑law (case law) concept across England and Wales, Scotland, Northern Ireland and Ireland, with specific statutes for particular contexts (for example, the Commercial Agents Regulations and the Estate Agents Act 1979; powers of attorney legislation for attorneys). Key features include: authority (actual—express or implied—and apparent/ostensible), the capacity to bind the principal, and fiduciary duties owed by the agent (loyalty, no secret profit, avoidance of conflicts, accounting) alongside...
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UK financial crime compliance for external agents and intermediaries: failure to prevent offences (bribery, tax evasion facilitation, fraud), penalties, policies, reporting duties and red flags
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Precedents
1 Introduction
Adhering to laws that prevent financial crime is vital for [ insert organisation name ] [ and all its businesses ]. We issue this note to every Agent and intermediary to build awareness, safeguard our good name, and mitigate any liability that could arise if financial crime is perpetrated by any of our business partners. This briefing promotes awareness and helps safeguard our reputation overall too effectively.
If you are a partner, agent, Consultant, or other third party delivering services for, or representing, [ insert organisation name ], you may fall within the definition of an ‘associated person’ under applicable legislation, meaning we can be liable for actions you take for us. It is therefore essential that you:
- understand and adhere to the same laws and policies that govern us and our employees;
- spot when financial crime risks emerge and respond properly, in line with our policies, in those circumstances;
- make it explicit to others that you and [ insert organisation name ] refuse to conduct business unethically;
- take measures to lower the chance of inadvertently committing criminal offences.
Committing such criminal offences can bring harsh penalties for both organisations and individuals and may result in liability...
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Web page updated on 22/05/2026
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