A firm must not appoint an individual, who is not an authorised person or an exempt person, to act as an agent of the firm, in carrying on regulated activities of the firm unless all of the following conditions are met at the date of the individual's appointment and while the individual continues to act as the firm's agent:
the individual works as agent only for the firm and not as agent for any other principal;
the firm has a written contract with the individual which:
sets out effective measures for the firm to control the individual's activities when acting on its behalf in the course of its business; and
(in the case of collecting debts) receipt of repayments by the individual is treated as receipt by the firm; and
A firm in CONC 14.1.2 R would need to have a Part 4A permission for every activity the individual carries on as its agent for which the firm would need permission if it were carrying on the activity itself.1
the firm must take all reasonable steps to identify conflicts of interest between the agent and a client of the firm that arise or may arise in the course of the firm carrying on regulated activities or ancillary activities.