Service Providers
The main characteristics of the Service Providers of a Retirement Scheme/Fund are summarized below:
| Retirement Scheme Administrator | Investment Manager | Custodian | Back-Office Administrator | Introducer | |
| Type of authorization | Licence | Licence | Licence | Recognition | N/A. Appointed by Personal Retirement Schemes/Schemes Administrators |
| Activity | Administering the operation of a Retirement Scheme | Management of the assets of a Retirement Scheme/Fund | Acting as custodian or trustee of a Retirement Scheme/Fund | Back-office administrative activities | Introducing clients to Retirement Schemes/Scheme Administrators |
| Independence requirement | Yes | Yes | Yes | N/A | N/A |
| Financial Resources Requirement | Yes | Yes | Yes | N/A | N/A |
| Compliance Officer | Required | Required | Required | Required | N/A |
| Money Laundering Reporting Officer (MLRO) | Required | Required | Required | Required | N/A |
| Auditor | Required | Required | Required | Required (as per Companies Act provisions) | N/A |
| Insurance | Required | Required | Required | N/A | N/A |
In our firm we have a wealth of experience to help you through the licencing/recognition process (as applicable to your particular situation) and advise you on your ongoing requirements as a Service Provider to a Retirement Scheme/Fund. Please do contact us at info@gmxlaw.com so as to provide you and your business with bespoke tailored-fit solutions that meet your individual needs.