ID Register gains regulatory approval

Posted: 03/02/2021

The ID Register has been licensed by the Guernsey Financial Services Commission to carry out controlled investment business. 

The ID Register was spun out of Apex Group in a management buyout led by Tim Andrews last September.

As an independent global hub for investor onboarding and registration, it offers a single-sign-off service for investors, funds and service providers. It is used by 270 clients with more than 25,000 investor profiles.  

The new regulated status offers users several benefits:
• Investors can control their own subscription, KYC and FATCA/CRS profile, which is completed and approved once, leaving further KYC requests to The ID Register.
• Fund managers can rely on regulatory approval, giving investors a better experience at lower cost.
• Service providers can reduce risk, lower overheads and win new business.  

The ID Register plans to extend its alliances in the coming months as it launches new services. It currently has alliances with firms including StepStone, Apex and CBRE.

Tim Andrews commented: “Approved investors no longer have to repeat their subscription and KYC information, and they can enjoy greater privacy and provide due diligence that is fit-for-purpose around the world. 

"Regulated status provides additional assurance of our support for each investor, which allows funds to close more quickly, simply and with less fuss.”

BDO Cerberus Regulatory Consulting acted for The ID Register in supporting its regulatory application with the GFSC.
BDO Cerberus Business Advisory Director Paul Robinson and Advisory Senior Manager Amanda de Carteret assisted with the application, including advising The ID Register on the scope of its regulatory application and drafting regulatory policies and procedures.

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