This chapter discusses the law governing intermediaries in the financial services industry. The relationship between the various species of intermediary and both the service provider and the customer, is prima facie governed by the rules of agency developed at common law, together with a statutory overlay. The Financial Services Act 1986 introduced the statutory concept of the appointed representative, which allowed regulated persons to appoint other persons for whom they accepted regulatory responsibility, and as a measure of consumer protection initiated a regime of vicarious responsibility, whereby the appointing principal was deemed responsible for everything said or done, or not said or done, by its appointed representatives. That regime was continued and expanded to the whole financial services industry by the Financial Services and Markets Act 2000.