This service is appropriate for clients that are working on the creation or promotion of investment schemes, but either do not wish to become FCA regulated, or are seeking a more limited FCA authorisation, e.g. investment advisory permissions. Gallium will only take on Appointed Representatives where Gallium will have a role within the investment scheme.
Gallium can assist many different types of client e.g. property managers, asset managers, hedge fund managers, private wealth managers, advisory firms or distributers. Typically, they are looking to bring their product/services/fund to market quickly and cost efficiently but are not FCA regulated and do not possess the necessary compliance expertise in-house. If you are such a potential client, then Gallium can assist you to achieve your aims by appointing you as an appointed representative of Gallium and providing the necessary compliance expertise and over-sight.
Gallium already provides hosting services for a number of clients. In such instances, we have provided an “umbrella” service by appointing the client companies as appointed representatives of Gallium, within the meaning of Section 39 of the Financial Services & Markets Act 2000. These client companies then nominate approved persons to perform certain services within the hosting agreement, including promoting investment in the schemes and providing investment advice.
Gallium remains responsible for the compliance procedures and we provide guidance in respect of the maintenance of compliance reports and the adverts register. We also conduct regular reviews, in agreement with the appointed representative, to ensure that the compliance procedures are properly implemented. This service means that you are not required to provide financial returns to the FCA or to maintain capital adequacy requirements. Clients are then able to spend the necessary time to establish their product or service and benefit from our compliance expertise and over-sight.
How does the Client benefit from Gallium’s Hosting Services?
- Gallium will take regulatory responsibility for your firm and approved persons whilst allowing your firm to retain its own identity and control.
- Becoming regulated by the FCA can take up to 6 months, Gallium’s hosting service can provide a regulatory umbrella in a matter of weeks allowing you to begin marketing and operating faster than the FCA authorisation process would allow.
- The full costs of obtaining FCA regulation are avoided.
- Administrative duties are reduced.
- Gallium will provide you with the required compliance policies, procedures and all FCA regulatory filings will be submitted by us.
- The client has access to Gallium’s experience and expertise
If you are interested in the hosting service then please contact us to obtain further information and to arrange a meeting to discuss your requirements in more detail.