Client Asset Protection - CI

OVERVIEW

Ravenscroft (CI) Limited (“RL-CI”) is licensed and regulated by the Guernsey Financial Services Commission (“GFSC”) under The Protection of Investors (Bailiwick of Guernsey) Law, 2020 to conduct categories 1 and 2 investment business.

RL-CI is also licensed and regulated by the Jersey Financial Services Commission (“JFSC”) under the Financial Services (Jersey) Law 1998 in the conduct of investment business classes A, B and C and fund services business, class Z.

RL-CI is a member of both The International Stock Exchange (TISE) and the London Stock Exchange.

REGULATORY PROTECTIONS

As a licensed and regulated entity, RL-CI (“Ravenscroft”) ensures clients assets are safeguarded in accordance with the rules of the GFSC and JFSC by:

  • segregating client money and assets from Ravenscroft’s assets, thus protecting client assets in the unlikely event of Ravenscroft’s insolvency and ensuring that clients’ funds are not used to finance Ravenscroft’s own business;
  • maintaining minimum amounts of capital resource with the intention being that there are sufficient funds to ensure an orderly wind down of Ravenscroft in the event of difficulties; and
  • maintaining minimum levels of professional indemnity insurance cover.

WHY THE STRUCTURE OF RAVENSCROFT PROVIDES PROTECTION

All monies received from clients are held in designated client accounts in the name of Huntress (CI) Nominees Limited, a company incorporated in Guernsey under registration number 43171. The company’s express purpose is for holding and ring-fencing client assets, which are not available for Ravenscroft’s proprietary use.

All client holdings are also registered in the name of Huntress (CI) Nominees Limited for the purpose of clearing and settling transactions.

Huntress (CI) Nominees Limited is a non-trading company wholly owned by Ravenscroft and has no assets or liabilities. It does not make proprietary investments, engage in market making activities, lend or borrow from any of the Ravenscroft Group or guarantee any third party borrowing.

SEGREGATION OF CLIENT MONEY

Ravenscroft’s settlement agent, Pershing Securities Limited, independently reconciles client money accounts on a daily basis.

As part of Ravenscroft’s internal procedures, all financial institutions with whom client money is deposited must confirm in writing that, in the event of insolvency of either Ravenscroft or the deposit taker, all monies held on account as client money are not to be offset against either the liabilities of Ravenscroft or the deposit taker.

Ravenscroft currently deposits client money awaiting reinvestment with a range of third party deposit takers.

SEGREGATION OF CLIENT INVESTMENTS

Ravenscroft’s settlement agent, Pershing Securities Limited, independently reconciles client investments on a monthly basis.

Ravenscroft’s primary custodian is BNP Paribas Securities Services SCA, Guernsey branch.

As part of Ravenscroft’s internal procedures, the custodian is required to confirm in writing that, in the event of insolvency of either Ravenscroft or the custodian, all assets in client custody accounts are not to be offset with either the liabilities of Ravenscroft or the custodian.

RISK MANAGEMENT

Ravenscroft operates a risk management framework and uses a broad range of offshore financial institutions to ensure deposits are well-diversified. A business continuity plan is in place should a major event impact Ravenscroft’s operations.

Ravenscroft undertakes due diligence when identifying which financial institutions to invest with, but cannot and does not guarantee the solvency of any investment provider, custodian or deposit taker with which business is placed.