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This makes the unauthorised firm appear as if it is regulated. EEA Branch -This is a firm that is primarily authorised and regulated by another regulator within the European Economic Area and has been registered so that it can operate within the UK under the permissions it holds. Appointed representative - A firm or individual that can act on behalf of another firm (its principal) that is authorised in the UK or regulated in another EEA country. The principal is responsible for the appointed representative's activities.

It must be a representative of a firm authorised by the FCA or PRA, or regulated in the EEA.