JTC, a fund and private client service provider, has received approval from the Financial Conduct Authority (FCA) to offer an enhanced level of fund servicing capabilities in the UK.
The latest authorization will allow the firm to serve as an operator of unregulated collective investment schemes (UCIS) in the UK.
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The firm can also establish, operate and wind up such schemes. JTC can also take on various oversight responsibilities such as ensuring that schemes adhere to all regulatory requirements and that relevant information is provided to investors.
It will also let the firm to assist in promoting funds and take over responsibilities for managing the property and assets held within the schemes.
JTC group head of institutional services Stuart Pinnington remarked: "This is a significant development for JTC that strengthens considerably our overall funds proposition as a provider of fund services both on and offshore.
"Whilst complementing our existing fund offering in the UK, this ability to now offer a full suite of fund solutions to cater for the more sophisticated and institutional end of the investor market is a key strategic move for the firm, positioning us well as we seek to further grow our fund servicing business in the UK and internationally."
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