Is your money safe?
We are able to give our clients confidence that their money will be safe as we hold funds in segregated accounts across a range of major banks or regulated institutions, in accordance with the FCA’s client money rules.
Segregated Client Money
Money transferred from clients to One Financial Markets is received directly into separate client money bank accounts. Client funds are kept in entirely separate accounts from our own money and held in trust with the clients as beneficiaries. We do not mix client money with our own funds and therefore in the event of default by One Financial Markets client funds will be returned to clients rather than being treated as a recoverable asset by general creditors of the company.
In some circumstances, where we execute transactions on a matched principal basis, we transfer client money to third party non bank institutions. In all cases the third party is based in the UK and subject to the same legal and regulatory regime in relation to the treatment of client money. Your money remains segregated from our own funds and those of the third party.
Financial Services Compensation Scheme
The Financial Services Compensation Scheme (FSCS) is the UK’s compensation fund of last resort for customers of authorised financial services firms. If One Financial Markets becomes insolvent or ceases trading clients may be entitled to compensation if we cannot, for any reason, meet our obligations. We fall under the ‘investments’ claim category and therefore clients may be entitled to receive up to £85,000. Further information about compensation arrangements is available from the FSCS.
Systems and Controls
One Financial Markets’ client money procedures and compliance with the FCA Client Money rules are reviewed and monitored on a regular basis. These processes are also audited on an annual basis by our independent statutory auditors and reported to the FCA. We are also required to submit a monthly Client Money and Assets Return to the FCA.
One Financial Markets is well capitalised and consistently operates with reserves in excess of the minimum Financial Resources Requirement as set out by the FCA. For more information about the firm’s capital position please see our Pillar 3 Disclosures.