An appointed representative can either be an individual or a firm. They are appointed, but not employed by, one company or group for whom they obtain business, be it a life company or an independent intermediary. If they are appointed by a life company, they are restricted, in the same way as company representatives, to selling and giving advice on the products of that company only. Appointed representatives are exempt from the requirement for authorisation because their investment activities are the responsibility of the company which appoints them.