The Geographical Availability of Our Service and Regulatory Responsibilities
Novia Global Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. Consequently, the FCA have authorised us to perform the regulated activities required to run an investment platform; such as arranging and making deals in investments, safeguarding and administering and arranging the safeguarding and administration of investments.
It is important for us, as we extend our geographical reach, to have a home state (sometimes known as a lead) regulator. We chose the FCA to perform this activity because we believe the rigour and challenge they provide should give local regulators across the globe confidence in our commitment to do the right things in the right way.
Our authorisation from the FCA allows us to immediately trade in some of the crown dependencies; Jersey, Guernsey and the Isle of Man. This is possible under a method commonly (although not formally) known as ‘tripping in’. This allows FCA regulated firms that have no physical presence to provide regulated services in these jurisdictions. Therefore, we will accept applications from residents in these places including registered trusts and incorporated companies.
In respect of trusts and incorporated companies, our identification and verification requirements checks, that form part of Anti- Money Laundering and Financial Crime obligations, will take place on all underlying beneficial owners (commonly known as UBOs). We will not under any circumstances consider applications where any UBO is a US person, as defined under the Foreign Account Tax Compliance Act (FATCA).
Under the Market in Financial Instruments Directive (MiFiD) we have been granted our European passport. As a business regulated by the FCA in the UK, our passport allows us to provide our platform services to residents in the following European states:
Austria, Belgium, Bulgaria, Croatia, Cyprus (republic of), Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom (GRA only). In addition, a special agreement exists with Gibraltar.
As the activities we provide are not recognised regulated activities in Switzerland, we are also able to accept applications for Swiss residents.
Outside of Europe, the Novia Global service is available in both Dubai and the Cayman Islands. We are also able to accept business from professional investors in Hong Kong.
Intermediaries We’ll Accept Business From
We will only accept applications introduced through an authorised financial intermediary, who has applied for and entered into a Terms of Business with us. We do not accept applications directly from clients.
The intermediary can be a financial adviser, a trust company or a private bank and must be authorised by a recognised regulatory body. It is the responsibility of the intermediary to ensure that they have the appropriate local registrations or authorisations to make a sale to any resident in any jurisdiction.
Through our Investment List we will provide information about the investments available. However, it is the responsibility of the Intermediary to ensure that any product or any investment is suitable for the client. This also involves making sure they abide by any local regulations regarding the access of certain products and investments to certain people. (For example, the appropriateness of rebate paying funds).