Alternative Investment Fund


Alternative Investment Fund Manager


The Alternative Investment Fund Managers Directive is a piece of EU legislation pertaining to the EU wide regulatory framework for AIFs and AIFMs.


Anti Money Laundering is a broad term relating to legislation, regulation and even internal procedures and process that protect against money acquired through illegal activity appearing as though it has been acquired via a legitimate source.

Appointed Representative

An appointed representative (‘AR’) is a person or firm which is able to arrange deals in investments and advise on investments by being authorised under the umbrella of a firm which is directly authorised by the FCA (the “principal”) which is already authorised to arrange deals in investments and advise on investments.

Approved Person

A person who has been approved by the FCA to perform a controlled function


Stands for Appointed Representative, where a person or firm is able to carry out certain regulated activities under the ‘Umbrella’  or oversight of a directly authorised firm (The Principal).   ARs need to still comply with the regulatory requirements relating to their activities and must allow their principal firm access to carry out the necessary compliance checks and ongoing monitoring.

AR Agreement

The written contract between a Principal firm and an AR. It includes some terms prescribed by the FCA. It will impose responsibilities and limitations on both parties.


Assets Under Management is the term given to the total sum of financial assets an investment manager manages on behalf of its clients.

Authorised Person

A person or firm who has a Part 4A permission to carry on one or more regulated activities.