Regulatory Notice
Introduction
The information on this page sets out legal and regulatory information relating to the Shieldpay group of companies.
Shieldpay® is the trading name for the Shieldpay group of companies which includes:
- SPG Technologies Ltd (company no 13725579)
- Shieldpay Ltd (company no 10061792)
- Shieldpay Trustee Services Limited (company no 13147948)
- Shieldpay Technologies Limited (company no 11451526)
- Shieldpay Professional Services Holdings Limited (company no 12071205)
- Shieldpay Operations Ltd (company no 14318564)
Each of these companies is a private limited company registered in England and Wales with its registered office at 3rd Floor 1 Ashley Road, Altrincham, Cheshire WA14 2DT.
Our group companies are part of the same VAT group (VAT no 412318633).
The registered office for Shieldpay Ltd and Shieldpay Trustee Services Limited is:
3rd Floor, 1 Ashley Road,
Altrincham, Cheshire
WA14 2DT, United Kingdom
Our principal place of business is:
Regus, Tallis House, 2 Tallis St,
Blackfriars, London
EC4Y 0AB, United Kingdom
Regulatory registrations
Shieldpay Ltd
- Authorised and regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (firm reference number 770210) to provide payment services. Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN www.fca.org.uk
- Registered with the Information Commissioner’s Office under registration number ZA197669 for the purposes of the protection of data. Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF. www.ico.org.uk
Shieldpay Trustee Services Limited
- Registered and supervised by the HM Revenue & Customs for anti-money laundering purposes as a Trust Services Provider (firm reference number XPML00000158706). HM Revenue & Customs, 100 Parliament St, Westminster, London, SW1A 2BQ www.hmrc.gov.uk
- Registered with the Information Commissioner’s Office under registration number ZA853165 for the purposes of the protection of data. Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF. www.ico.org.uk
Insurance
SPG Technologies Ltd holds all applicable insurance policies to manage its business and provide its services, including those of its subsidiaries.
Our professional liability insurance is arranged through Aon Risk Solutions, Financial Services Group, The Aon Centre, The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AN. The territorial coverage of our insurance is worldwide.
How do we keep your money Safe?
Shieldpay Limited
When you provide funds to Shieldpay Ltd these funds are called ‘Relevant Funds’ under the Payment Services Regulations 2017 (Regulations) and are held in a segregated ‘Safeguarded Account’ which is separate from Shieldpay’s own funds. Relevant Funds are held in the Safeguarded Account until they are sent to a nominated recipient.
These segregated Safeguarded Accounts are held at our partner financial institutions who are authorised credit institutions by the FCA or PRA, or authorised custodians as allowed under the Regulations.
In the unlikely event that Shieldpay Ltd runs into financial difficulty, your funds will be protected. The Regulations ensure that in the event of Shieldpay Ltd becoming insolvent creditors have no right to any Relevant Funds held in Safeguarded Accounts.
In the event that one of our partner financial institutions was to become insolvent, Shieldpay Ltd would, like any other customer, not necessarily be able to recoup all the Relevant Funds held in our Safeguarded Accounts with that partner. However, to minimise this risk, Shieldpay exercises particular care in selecting its partner financial institutions. Shieldpay will ensure that each institution we use to hold funds must either: (i) have an investment-grade credit rating from either Standard & Poor, Moody’s, or Fitch; or (ii) hold its deposits with the Bank of England. Shieldpay also conducts ongoing monitoring to ensure this risk remains as minimal as possible. In the unlikely event that one of our partner financial institutions becomes insolvent, you may be entitled to make a claim under the Financial Services Compensation Scheme protection (‘’FSCS’’) up to the maximum prescribed limit (currently £85,000 per customer).
Shieldpay Ltd carries out external audits to demonstrate that it is safeguarding Relevant Funds in compliance with applicable regulations in the United Kingdom.
Shieldpay Trustee Services Limited
When you provide funds to Shieldpay Trustee Services Limited, they are held in a segregated Client Money Account which is separate from Shieldpay’s own funds. Your funds are held in a Client Money Account until they are sent to a nominated recipient.
While this company is not regulated by the FCA, it is our policy that we hold funds in segregated Client Accounts held at our partner financial institutions who are authorised credit institutions by the FCA or PRA, or authorised custodians as allowed under the Regulations.
In the unlikely event that Shieldpay Trustee Services Ltd runs into a financial difficulty, your funds will be protected. The safeguarding arrangements between us and our partner financial institutions ensures that in the event of Shieldpay Trustee Services Limited becoming insolvent, liquidators, receivers, administrators, or creditors have no right to your funds held in Client Accounts.
In the event that one of our partner financial institutions was to become insolvent, Shieldpay Trustee Services would, like any other customer, not necessarily be able to recoup all the funds in our Client Money accounts. However, to minimise this risk, Shieldpay exercises particular care in selecting its partner financial institutions. Shieldpay will ensure that each institution we use to hold funds must either: (i) have an investment-grade credit rating from either Standard & Poor, Moody’s, or Fitch; or (ii) hold its deposits with the Bank of England. Shieldpay also conducts ongoing monitoring to ensure this risk remains as minimal as possible.
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