Ovcharenko v InvestUK Ltd

Under section 39(3) of the Financial Services and Markets Act 2000, a principal (authorised firm) is liable for anything done or omitted by its appointed representative in carrying on the business for which the principal has accepted responsibility, to the same extent as if the principal had expressly permitted it; this statutory liability is a free-standing route to liability that does not depend on proving a common-law agency relationship.