Magarch is a 100% subsidiary of Keills, is authorised by the Financial Conduct Authority in the UK and provides regulated services to Keills and third party clients including all anti money laundering and regulatory compliance services for funds of Keills and third party clients.
Magarch is a specialist in winding up collective investments and has developed a streamlined proces. Many funds established in the last 20 years are now in a position to wind up. Since their creation, the regulatory framework has altered, leaving may managers unable to perform the winding up function. Magarch has been appointed to windup funds where the previous manager is unable to meet the regulatory requirements.
Magarch provides anti money laundering and investor tracing services to a number of client funds. Services are not restricted to UK activities and we have been active in tracing and verifying investors in funds over a number of domiciles.
A review of the structure and documentation of the UCIS.
Establishing the identity of the participants
Maintaining the register of participants
Winding up the UCIS in accordance with laws and fund documentation.
Not all things in life go as planned. We have identified 5 key events that can cause difficulty operating and winding up a UCIS.
We call them “The 5 D’s”
Magarch has considerable experience of dealing with Unregulated Collective Investment Schemes where the 5Ds have occurred. Each item can take considerable resources to correct and require robust procedures. While each new entity never believes it will run into problems, inevitably one of the 5Ds will occur and the operator is required to address the arising issues.
Magarch is authorised and regulated by the Financial Conduct Authority and is a member of the Anti Money Laundering Professionals Forum.