As a group, GIS UK Ltd offers a range of prime broking services with a high degree of personalisation to accommodate individual client requirements. In many ways, this is the public face of the company, but like a swan gliding across a lake, there is a lot of unseen work required to create our seamless trade to settlement service.
Much of this revolves around regulatory changes, brought in to enhance client protection and the smooth running of markets. Our constant communication with regulators around the globe ensures that we stay one step ahead.
Financial Conduct Authority (FCA)
As a member of the UK financial services industry, GIS UK Ltd has been regulated by the FCA since 2005. This is a body that is independent of the UK government and funded by fees charged to those offering financial services in the UK. Over the years, the remit of the FCA has changed significantly from trade execution to clearing and custody and general prime broking services.
While client protection is central to all that we offer, the FCA regulatory structure provides clarity and enhances client confidence.
Securities and Futures Commission (SFC)
Trade execution together with clearing and custody services are the mainstay of our international operations. The SFC is a non-government statutory body responsible for regulating Hong Kong’s securities and futures market. There have been significant regulatory changes since Hong Kong left the United Kingdom on 1 July 1997. The integration of Hong Kong markets with their Chinese counterparts and greater access afforded to overseas investors are very fluid situations that require careful monitoring.
Our constant communication with the SFC ensures that we are fully compliant and forward-thinking while striving to maintain the high-quality services we provide.
HMRC approved provider of Stocks and Shares ISAs
While many of our clients are professional investors and companies, we still offer an array of tax-efficient investment wrappers in the shape of Stocks and Shares ISAs. HMRC approval has allowed us to introduce additional services which complement our prime broking services. As we have mentioned on numerous occasions, central to our business is the commitment to personalised services for individual clients. We are constantly investigating ways in which we can enhance and expand these services.
Participant in the Financial Services Compensation Scheme (FSCS)
It is important that clients have confidence and transparency in all that we do, with our participation in the FSCS as an extension of this trust. Whether through trade execution or clearing and custody services, we always uphold the highest standards, above and beyond our regulatory obligations. As a company offering prime broking services, trust is a key element of our business and the cornerstone of our reputation.
Foreign Account Tax Compliance Act (FATCA)
GIS UK Ltd offer prime broking services on a global basis and are therefore required to sign up and abide by international regulations. One such regulatory obligation involves FATCA and the commitment to work with US institutions to report on assets held by US account holders. This is part of the ongoing integration of regulations and obligations, and enhanced transparency, afforded to global brokers.
We understand and respect our international obligations which are integrated into all of the prime broking services we offer.
Transparency is the key
While the ever-changing regulatory environment can be challenging, this encourages trust in our prime broking services, trade execution and clearing and custody operations. Client satisfaction and protection is important, transparency breeds trust and trust breeds confidence. Our investment in new technology is always considered within the relevant regulatory structures. Communication with clients is critical, keeping them abreast of changes and developments going forward.
We have built-up an impressive reputation since opening our doors in 2004, of which we are very proud. However, we take nothing for granted and look forward to the future with anticipation.