regulatory host

216a firm:

1. (1) that offers or provides a service:
   1. (a) by which unauthorised persons, whether or not in the same group as the firm, may become appointed representatives of the firm;
   1. (b) for remuneration with a view to profit; and
1. (2) to which either (a) or (b) applies:
   1. (a) the firm does not carry on any regulated activities other than through its appointed representatives; or
   1. (b) the regulated activities carried on by one or more of the appointed representatives of the firm are not connected to any regulated activity undertaken by the firm other than through its appointed representatives.