With CEO & CoFounder of SmartCrowd
Client Money is held by Smart Crowd in a segregated Client Account with Global Custodian Services (GCS). GCS is a UK company, authorized and regulated by the Financial Conduct Authority and holds Part IV Permissions under the FSMA 2000. Registration number 595875, as such GCS are fully regulated to hold client money for the purpose of investment. Whilst GCS is accountable to Smart Crowd for the safe keeping of its Client Money, GCS does not have a relationship with Smart Crowds clients directly. Therefore, Smart Crowd is wholly accountable for our investors “Client Money”. Smart Crowd has undertaken due diligence of GCS’s custodial systems and controls and deemed fit and proper to hold Client Money on Smart Crowds behalf.
Clients of SmartCrowd are subject to the protection conferred by the DFSA’s Client Money Provisions and therefore:
this Money will be held separate from Money belonging to SmartCrowd; and in the event of the Authorised Firm’s insolvency, winding up or other Distribution Event stipulated by the DFSA, the Client’s Money will be subject to the DFSA’s Client Money Distribution Rules.
Interest on Client Money is not payable to you as a Client of Smart Crowd.
As noted above Client Money will be held in the UK, outside the DIFC and the market practices, insolvency and legal regime applicable in that jurisdiction may differ from the regime applicable in the DIFC.