Global Prime holds an Australian Financial Services License (AFSL) and is fully licensed and regulated by the Australian Securities & Investments Commissions (ASIC).
What is an AFSL?
ASIC is an independent Australian government body that acts to enforce and regulate company and financial services law to protect Australian consumers, investors and creditors.
In order to obtain an AFSL, businesses must provide evidence that they are competent to carry out their business operations, have sufficient financial resources and comply with nationally set standards for training, insurance and dispute resolution.
An AFSL provides clients with the peace of mind that the holder is regulated in one of the worlds most stringent rule based financial services sector, by an aggressive and powerful government organisation, ASIC.
Global Prime deposits all client funds into segregated Client Trust Accounts with Westpac. Westpac is Australia’s first bank and oldest company, one of four major banking organisations in Australia. They provide a broad range of consumer, business and institutional banking and wealth management services through a portfolio of financial services brands and businesses.
Client moneys relating to retail clients held in the Global Prime Trust Account does not get used for hedging. Global Prime complies with the ASIC Client Money rules