FCA authorised e-money issuer
Foremost Currency Group has been authorised to provide payment services since November 2009 and in January 2015 we upgraded to the status of e-money issuer. We are authorised by the Financial Conduct Authority (FCA) for the issuing of electronic money under the Electronic Money Regulations 2011 [FRN 900204]. This means we comply with the rules on how we conduct our business, treat our customers and ensure that we protect customer funds at all stages throughout the conversion process. The FCA checks that we have enough money on the balance sheet and proper arrangements in place to protect customers’ money in the unlikely event we experience financial difficulty.
You can view our details on the FCA E-Money register.
Safeguarding your funds
As an authorised e-money issuer we must safeguard customers’ funds by keeping their money separate from our business transactions. At Foremost Currency Group we have segregated client accounts that are held at Barclays PLC. All our accounts are full audited by our chartered accountants and independent auditors.
In-house Compliance Team
Our dedicated in-house compliance team ensures that we comply with all FCA regulations. Foremost Currency Group also adheres to a rigorous code of conduct. Find out more about our trading ethics and the code of conduct in our Customer Charter.
2A1 Credit Rating
We hold a 2A1 credit rating from Dun & Bradstreet, the global company ratings agency. This shows both our strong financial strength as well as our extremely low financial risk. Our ‘DUNS’ number is: 347428026. For more information on how to decipher credit ratings please visit the Dun & Bradstreet website.
Industry Best Practice
We are active members of both the Association of Foreign Exchange and Payment Companies (AFEP) and the Association of UK Payment Institutions (AUKPI) and our Managing Director, Robin McEwen, has sat on the executive board of both these organisations. We work closely with them to develop industry best-practice guidelines for the benefit of our customers.
The Foremost Currency Group Ltd is registered in England: Company Number 5544575. We are supervised by the FCA for compliance with the Money Laundering Regulations (MLR) 2007. Under the Data Protection Act (1998) our ICO registration number is Z9163648.