Broker “Finality” Transfer

For brokers with a legacy portfolio who would really rather focus attention on “live” clients. Citadel Risk is able to offer a complete solution that transfers the responsibility for all aspects of the run-off to Citadel Risk and in so doing, provides the broker with a “walk away” option. Our approach is to obtain the required client/market consent to the transfer of all broker obligations including all regulatory requirements. Two key elements of our service include the full transfer of responsibility for handling the IBA ledgers and funds and dealing with FSA in a proactive manner throughout the transition process.

Benefits and aspects of the finality solution:

  • Finality – the need for an absolute final solution to the management, administration, claim, accounting and regulatory issues.
  • Reputational – to ensure that the solution continues to uphold the good name and reputation of the intermediary and that the legacy portfolio is managed in a positive and professional manner.
  • Regulatory – that the solution complies with all necessary compliance and regulatory requirements and is an acceptable way forward for all involved parties including clients, markets and FSA.
  • Cost Effectiveness – the solutions should allow the broker to post a one off finality provision in its books at the year end and be cost effective.

Key contacts

Gary Hall

Mike Palmer