Allfunds receives UK regulatory authorisation

Third Country Branch

Allfunds has been authorised to operate as a Third Country Branch in the UK, bringing the platform under the dual regulation of the Prudential Regulation Authority and the Financial Conduct Authority.

The move has been made in anticipation of the end of the Temporary Permissions Regime for UK branches of European Economic Area-regulated firms. Under its FCA authorisation, the platform will operate under CASS regulatory provisions to offer client assets safekeeping under a UK nominee accounts structure. BlackRock joins AllFunds private markets wealth distribution programme The authorisation demonstrates a "commitment to ensuring strong performance that ultimately underpins the quality of the service received by clients", according to Allfunds UK country head Tom Wooders. "Allf...