How does Regent FE safeguard client funds?
Regent FE follows a daily reconciliation and safeguarding process. All client money is reconciled daily as part of the end-of-day process and kept overnight in designated safeguarding accounts with UK (United Kingdom) and EU banks.
This process has three checks:
- Client funds are segregated from Regent FE own funds
- The client balances are reconciled on the daily basis
- Senior management approves the reconciliation of accounting balances and cash balances
- Senior management confirms the transfer of funds from segregated accounts into the safeguarding accounts at the end of each business day
Our main Safeguarding provider is Clearbank, a UK credit institution. ClearBank Ltd. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 754568). Registered Address: ClearBank, Borough Yards, 13 Dirty Lane, London, SE1 9PA.
Our Risk Management Committee reviews counterparty arrangements and monitors them on a regular basis.
To find out more about how we protect your money please contact your Account manager.