28.03.2024 11:54:59 - dpa-AFX: GNW-Adhoc: EBC Financial Group (Cayman) Limited Granted Full Regulatory Licence from the Cayman Islands Monetary Authority (CIMA)
HONG KONG, March 28, 2024 (GLOBE NEWSWIRE) -- EBC Financial Group
(https://www.ebc.com/) (EBC Group or EBC) is pleased to announce that its Cayman
Islands subsidiary, EBC Financial Group (Cayman) Limited, has been awarded a
full Cayman Islands Monetary Authority (CIMA) licence. This significant
achievement marks a major advancement in EBC's global regulatory portfolio,
following its existing accreditations from the UK's Financial Conduct Authority
(FCA) and the Australian Securities and Investments Commission (ASIC).
Within CIMA's strict regulatory framework, EBC will offer more comprehensive
financial services, including trusts, securities, futures, and funds,
specifically catering to retail, professional, high-net-worth individuals and
institutional investors.
The Cayman Islands, recognized as a premier offshore financial centre, gathers
90% of the world's banks and over 85% of hedge funds. CIMA, the Cayman Islands
Monetary Authority, is renowned for its rigorous standards and comprehensive
oversight, mirroring the UK's legal framework. Strict information disclosure,
client fund protection, and compliance management requirements ensure the
integrity and stability of the financial sector.
Among the Global Elite with Full Licensing
Since its establishment, CIMA has issued only a limited number of full
regulatory licences. In the past two years, only four entities have passed the
audit. EBC Group stands as one of the very few firms to have secured the coveted
full regulatory licence.
EBC Group, having undergone stringent scrutiny, secured a full regulatory
licence, granting EBC Financial Group (Cayman) Limited comprehensive permissions
in dealing, arranging, managing, and advising, all under CIMA's strictest
regulations, including the Securities Investment Business (SIB) framework. EBC
adheres to these requirements, ensuring comprehensive investor fund security.
Before receiving the full regulatory licence from CIMA, EBC held two top global
regulatory licences: EBC Financial Group (UK) Ltd is authorized and regulated by
the UK's Financial Conduct Authority (FCA); EBC Financial Group (Australia) Pty
Ltd is authorized and regulated by the Australian Securities and Investments
Commission (ASIC).
The full regulatory licence issued by CIMA consolidates EBC's position as a
global top-tier financial group, promotes cross-jurisdictional asset allocation,
and provides more comprehensive framework support for expanding global services.
EBC Group holds the highest-level Corporate Banking Account with Barclays,
providing equal fund security under different regulatory bodies. Consistent with
EBC Financial Group (UK) Limited's strict adherence to the FCA's CASS rules, EBC
Financial Group (Cayman) Limited rigorously complies with CIMA's client fund
protection regulations. Client funds are independently safeguarded at Barclays
UK, enjoying the same AAA-level security protection.
Future Directions:
EBC Group is set to explore new horizons and expand its diversified and
innovative services globally. Looking ahead, EBC will adhere to its original
intention, strictly abide by CIMA's high standards, ensure that investors enjoy
a compliant trading environment, and thus build a safer regulatory protection
mechanism to promote industry trust and information transparency.
For more information on EBC Financial Group, please visit: https://www.ebc.com/.
About EBC Financial Group
Founded in the esteemed financial district of London, EBC Financial Group (EBC)
is renowned for its comprehensive suite of services that includes financial
brokerage, asset management, and comprehensive investment solutions. With
offices strategically located in prominent financial centres, such as Sydney,
Hong Kong, Tokyo, Singapore, Bangkok, Limassol and more, EBC caters to a diverse
clientele of professional, individual and institutional investors worldwide.
Recognised by multiple awards, EBC prides itself on adhering to the highest
levels of ethical standards and international regulation. EBC Financial Group
(UK) Limited is regulated by the UK's Financial Conduct Authority (FCA), EBC
Financial Group (Australia) Pty Ltd is regulated by Australia's Securities and
Investments Commission (ASIC), and EBC Financial Group (Cayman) Limited is
regulated by the Cayman Islands Monetary Authority (CIMA).
At the core of EBC Group are seasoned professionals with over 30 years of
profound experience in major financial institutions, having adeptly navigated
through significant economic cycles from the Plaza Accord to the 2015 Swiss
franc crisis. EBC champions a culture where integrity, respect, and client asset
security are paramount, ensuring that every investor engagement is treated with
the utmost seriousness it deserves.
Media Contact:
Douglas Chew
+6011 3196 6887
douglas.chew@ebc.com (mailto:douglas.chew@ebc.com)
Photos accompanying this announcement are available at
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