---
title: "What is an Introducer Appointed Representative (IAR)? · Merrin"
description: "An IAR may only introduce customers and hand out non-real-time promotions. What it can and cannot do, and which SUP 12 rules still apply."
url: https://merrin.ai/glossary/introducer-appointed-representative
---

[Glossary](https://merrin.ai/glossary)

# Introducer Appointed Representative (IAR)

An Introducer Appointed Representative is an AR whose appointment is limited to introducing customers to its principal or the principal's group and distributing non-real-time financial promotions for their products. It cannot advise, arrange or deal. IARs carry a lighter set of SUP 12 obligations, but they are still ARs and the principal is still responsible for them.

## What an IAR can and cannot do

- The contract must limit the scope to effecting introductions and distributing non-real-time financial promotions (SUP 12.5.7R).
- An IAR may not deal as agent, arrange deals or regulated mortgage contracts, assist with insurance contracts, advise, or do anything that might lead a customer to believe they had received one of those services (SUP 12.2.8G).
- An IAR may have more than one principal, with a contract with each, and no multiple principal agreement is needed (SUP 12.2.8G, SUP 12.4.5BR).

## What still applies

- The principal must take reasonable care, before appointment and continuously, that the IAR is suitable, at a minimum verifying the identity of the IAR and relevant persons (SUP 12.4.6R, SUP 12.4.7G).
- IARs are covered by the 30-day notice of a new appointment, the annual self-assessment, REP025 (without non-regulated revenue) and the annual check of AR details.
- The annual and triggered review rules (SUP 12.6A.2R to 12.6A.4R) and the approved persons regime do not apply to IARs (SUP 12.2.10G, SUP 10A.1.15R).

## Common misconceptions

**“IARs need no oversight.”**

The annual review rule does not apply, but the suitability test is continuing, and IARs must be covered in the self-assessment and in REP025.

**“IARs have a shorter notice period.”**

PS22/11 considered and rejected that. A new IAR needs the same 30 days' notice as a full AR.

**“An introducer and an IAR are the same thing.”**

An introducer is an individual appointed by a firm or AR and is not exempt in their own right. An IAR is itself an exempt AR (SUP 12.2.13G).

## In Merrin

In Merrin an IAR is a firm type, so the rules that do not apply to it are simply not asked for.

[Risk & completeness](https://merrin.ai/features/risk)

## Related terms

- [AR](https://merrin.ai/glossary/appointed-representative)
- [REP025](https://merrin.ai/glossary/rep025)
- [Annual self-assessment](https://merrin.ai/glossary/annual-self-assessment)

## Sources

Checked against these sources on 23 October 2026. This is general information, not legal advice.

- [FCA Handbook, SUP 12](https://www.handbook.fca.org.uk/handbook/SUP/12/)
- [PS22/11: Improving the Appointed Representatives regime](https://www.fca.org.uk/publications/policy-statements/ps22-11-improving-appointed-representatives-regime)
- [FCA: REP025 data item FAQs](https://www.fca.org.uk/firms/regdata/rep-025-data-item-faqs)

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