Quality and Regulation

Quality and Regulation

Overview

At STM Fidecs we view Quality and Regulation as part of the same equation – and as fundamental to our business.

Quality is our prime focus and we seek to promote the highest standards in everything we do. We view quality assurance as a means of delivering the best value whilst managing our business risk.

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Quality Risk Management Strategy

Our strategy for managing risk throughout our business focuses on quality.

Our five primary risk management goals are to:

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Risk Management Through Quality Assurance

Risk Management Through Quality Assurance – What Is It?

STM Fidecs Group recognises that risk is a fundamental element of business, so its management should not be seen as a hindrance to business. We approach risk management from the positive perspective of Quality Assurance: quality clients, quality staff, quality systems and quality services. In seeking to achieve and maintain the highest quality in all those areas, so the risks to the Group are mitigated or removed.

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Risk Management Through Quality Assurance – Who Are We?

Risk management through quality assurance – who are we?

The STM Fidecs Group Risk Management & Quality Assurance Office provides the business with support and guidance to maintain quality and reduce risk.

STM Fidecs Group has a Risk Management Committee, made up wholly of divisional directors, which identifies and assesses Group-wide risks, agrees and instigates suitable responses to those risks and then monitors and reports on those responses.

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Quality Regulation

Gibraltar’s strong but responsive regulatory regime is one of the factors that lead many financial institutions to establish a presence here.
Our expert knowledge of the Gibraltar regulations ensures that we comply with the Gibraltar FSC, giving you peace of mind.

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Gibraltar’s Financial Services Commission

The financial services industry in Gibraltar is regulated and supervised by the Financial Services Commission (FSC), which is a statutory body independent of Government. The FSC was established by the Financial Services Ordinance 1989 and currently consists of a board of eight members, including the Commissioner as Chairman and Executive Officer.

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A Widely-Endorsed Regulatory Regime

The most recent statutory independent review of the FSC highlighted that Gibraltar had a "good standard of financial services regulation" and a "regulatory regime developed to a good standard and staffed by competent regulators with a manifest determination to improve performance further." (Statutory Review Report, January 2005)

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Regulatory Licensing

An FSC licence is required to undertake any of the following activities in or from Gibraltar:

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STM Fidecs Licensed Entities

STM Fidecs companies that carry out regulated financial services activities, and which therefore are licensed by the Financial Services Commission, are:

STM Fidecs Insurance Management
MontaguPavilion, Gibraltar
FSC00517B 60983STM

Fidecs Management Ltd
MontaguPavilion, Gibraltar
FSC00147B 39308STM

Fidecs Management (Gibraltar) Ltd
MontaguPavilion, Gibraltar
FSC00851B 94395STM

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KYC

Know Your Client (KYC)

At STM Fidecs Group, we make a virtue out of something that others view as a necessity.

KYC might be thought of by some as paperwork that just has to be done by law. But at STM Fidecs we see KYC as fundamental to doing business. After all, if we don’t know our clients, how can we possibly serve them to the best of our ability?

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