At Legatus Trading Ltd, we believe in transparency, and we understand that some individuals may question why we are not registered with the Financial Conduct Authority (FCA). While this may raise concerns at first glance, we would like to explain the reasoning behind our status and reassure our shareholders of the protections in place.
The FCA’s regulations are primarily designed to oversee financial institutions, banks, and investment houses that deal directly with clients, ensuring accountability and protection for those customers. Legatus Trading, however, operates outside the scope of these regulations for a very simple reason: we do not have clients.
To address concerns about our regulatory status, we even applied for voluntary registration with the FCA. However, our application was rejected for a clear reason.
Instead of functioning as a traditional investment house with clients, we are structured to have shareholders. Shareholders in Legatus Trading enjoy protections and rights under the Companies Act of 2006, which governs the conduct of UK companies. This legal framework provides a robust layer of security for our shareholders, ensuring that their interests are protected without the need for FCA oversight.
To address concerns about our regulatory status, we even applied for voluntary registration with the FCA. However, our application was rejected for a clear reason: the FCA confirmed that, since Legatus Trading only trades for its own account and does not engage with external clients, we do not fall under the requirements to register. Specifically, the FCA stated that “where a business trades for its own account and does not have a customer, it will not need to register.”
We want to reassure our shareholders that this regulatory status is appropriate for the way we operate, and we are committed to maintaining a transparent and compliant structure.
For any further questions or clarifications, feel free to reach out to us directly.