An AR is a person who is a party to a contract with an authorised person (known as the principal - in this case Wonderful Payments, trading as Asima) which permits or requires the appointed representative to carry on certain regulated activities under the principal's responsibility.
In practice, this means:
- Asima assumes regulatory responsibility for the AR's activities, effectively licensing by proxy.
- The AR does not need separate FCA authorisation, provided it is strictly operating within the agreed scope defined in our written contract.
