This service is appropriate for clients that wish to become fully FCA authorised and regulated in due course but wish to continue with investment business whilst their application is in progress. It is understood that these clients will ultimately become regulated and so they will become the regulated operator for the new investment schemes in due course. However, we have been successful in the past in retaining an on-going role as administrator because such clients have valued our experience and quality of service.
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 also want to become FCA authorised in due course.
If you are such a potential client, then Gallium can assist you to achieve your aims by enabling you to become an appointed representative of Gallium and providing the necessary compliance expertise and over-sight to enable you to proceed with your business plans. In addition, we will provide assistance with your FCA application and your compliance systems and procedures.
Such clients commence by becoming appointed representatives of Gallium, within the meaning of section 39 of FSMA. These client companies then nominate approved persons to perform certain services, including promoting investment in the schemes and providing investment advice.
However, as well as remaining responsible for the compliance procedures, etc we also assist such clients to create their own compliance manuals, ICAAP, disaster recovery plans and FCA risk assessments. This enables such clients to proceed with their own FCA application. If we find that you require additional assistance then we work with the leading legal advisers and compliance services providers and we can introduce you to them.
If you are interested in the incubation service then please contact us to obtain further information and to arrange a meeting to discuss your requirements in more detail.