This guidance document will ensure that Dearin & Associates created documents contain the required level of information so that clients fully understand the service provided. Integrating a high level of information helps to protect the transparency and integrity of our service and ensures that we meet the FCA and ASIC’s expectations of our businesses. As a part of Ebury’s continual monitoring of Dearin & Associates a review of all documents will be carried out at regular intervals. This will be to ensure that all documentation complies fully with internal and regulatory requirements. Prior to a business relationship starting Ebury will require a full review of all Dearin & Associates documentation to be completed. This will also include a requirement for Dearin & Associates to complete any remedial actions that are identified. 

Contents 

1 – Main objectives
2- Relationship between Ebury and the Dearin & Associates 
2.1 Regulatory declarations on Websites
2.2 Declarations on Application Forms
2.3 Format and Content
3 – Clear, fair and not misleading documents
4 – Ebury Online Platform
5 – Ongoing monitoring 

1 - Main objectives

The main principles that underpin this guide are that: 

  1. Dearin & Associates must make it very clear that the payment and foreign exchange services are being provided by Ebury. They must not state or imply in any way that the Dearin & Associates provides the regulated services. 
  2. Dearin & Associates need to make it clear that they are not connected to Ebury other than as an introducer. Under no circumstances should they state that the Dearin & Associates is a trading name of Ebury. Any reference to “Trading Names” must be removed from all documentation. 
  3. There must be nothing in the documentation that could be objectively considered as unclear, unfair or misleading to clients. 
  4. Ebury will carry out regular checks on all Dearin & Associates to ensure that these requirements are adhered to and Dearin & Associates must notify Ebury immediately if there is any material change. 

Documentation includes any material that could be seen or end up in client hands. The list below is not exhaustive and the term documentation could include any of the following materials: 

  • Websites 
  • Leaflets 
  • Email footers/signatures 
  • Telephone services/answer machines/holding messages (automated or manned) 
  • Marketing materials 
  • Posters 
  • Business cards 
  • Letters, including headers and footers 
  • All receipts 
  • Account application forms (both paper and electronic) 
  • Business cards/introductory materials
Any documentation that is provided to Dearin & Associates by Ebury will be amended by Ebury directly. The following sections provide Dearin & Associates with detailed guidance on what they must, and must not include in their documents.

The main principles that underpin this guide are that: 

  1. Dearin & Associates must make it very clear that the payment and foreign exchange services are being provided by Ebury. They must not state or imply in any way that the Dearin & Associates provides the regulated services. 
  2. Dearin & Associates need to make it clear that they are not connected to Ebury other than as an introducer. Under no circumstances should they state that the Dearin & Associates is a trading name of Ebury. Any reference to “Trading Names” must be removed from all documentation. 
  3. There must be nothing in the documentation that could be objectively considered as unclear, unfair or misleading to clients. 
  4. Ebury will carry out regular checks on all Dearin & Associates to ensure that these requirements are adhered to and Dearin & Associates must notify Ebury immediately if there is any material change. 

Documentation includes any material that could be seen or end up in client hands. The list below is not exhaustive and the term documentation could include any of the following materials: 

  • Websites 
  • Leaflets 
  • Email footers/signatures 
  • Telephone services/answer machines/holding messages (automated or manned) 
  • Marketing materials 
  • Posters 
  • Business cards 
  • Letters, including headers and footers 
  • All receipts 
  • Account application forms (both paper and electronic) 
  • Business cards/introductory materials
Any documentation that is provided to Dearin & Associates by Ebury will be amended by Ebury directly. The following sections provide Dearin & Associates with detailed guidance on what they must, and must not include in their documents.

2- Relationship between Ebury and the Dearin & Associates

Dearin & Associates must ensure that they always present a clear and factually accurate description of the relationship between Ebury and the Dearin & Associates. 

2.1 Regulatory declarations on Websites 

The Dearin & Associates must ensure that the website homepage and landing page clearly display the following declaration: 

Dearin & Associates’ Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited.

Ebury Partners UK Limited is registered with the Australian Securities and Investments Commission (ASIC), Australian Registered Body (ARBN:625009887) and with the Australian Transaction Reports and Analysis Centre (AUSTRAC).

Ebury provides financial services in Australia pursuant to a licensing Exemption provided by the Australian Securities and Investments Commission (ASIC). 

2.2 Declarations on Application Forms 

When creating a feature to apply online/via paper or over the telephone for an account, the feature will clearly state that the account is to be opened with Ebury Partners UK Limited, the following wording must be used: 

Dearin & Associate’s Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. 

Ebury Partners UK Limited is registered with the Australian Securities and Investments Commission (ASIC), Australian Registered Body (ARBN:625009887) and with the Australian Transaction Reports and Analysis Centre (AUSTRAC). 

2.3 Format and Content 

By “Clearly” it is meant that the font must be of an adequate size, an appropriate colour and clearly displayed on an easy to see location on the page. The above statement must also be present on any documentation in which the Dearin & Associates makes a regulatory statement to the client. 

Under no circumstances should the documentation suggest that the Dearin & Associates is the entity that is directly regulated or is the entity with the Licences to perform money remittance. It must always be clear that Ebury Partners UK Limited is registered with the Australian Securities and Investments Commission (ASIC), Australian Registered Boy (ARBN:625009887) and with the Australian Transaction Reports and Analysis Centre (AUSTRAC). 

If there is any mention of regulatory requirements such as capital adequacy, segregated accounts or data protection it must be clear that these obligations are met by Ebury. The following wording should be used to avoid any confusion:

Capital Adequacy – The levels of capital requirements are based on Ebury’s level of activity. The FCA reviews Ebury’s capital adequacy on an annual basis.

Client Protection – Ebury’s client funds are held in segregated accounts, entirely separate from their own operating accounts, so client funds are always safe. 

Robust Internal Risk Management – Ebury have strict governance and operational processes in place to scrutinise the accuracy of each of their transactions, with appropriate involvement from their Directors. Compliance with Ebury’s governance and processes is regularly audited.

If the Dearin & Associates is regulated in their own right, the registration details with the relevant regulator and/or supervisory agency must be clear, accurate and undoubtedly separate from those belonging to Ebury. 

It must be made explicitly clear that Payment and FX services will be provided by Ebury and not by the Dearin & Associates. Phrases such as “Our systems/we have established/we manage” must not be used in order to avoid misleading clients into who operates the service. 

If a Terms and Conditions link/page is included in any documentation, these must reflect the most recent version of Ebury’s Terms and Conditions, these must also include the current version number and date of publication. 

The address on any documentation must always be the address which belongs to the Dearin & Associates. There must not be any suggestion that the Ebury address is that of the Dearin & Associates in any capacity. 

Whenever mention is made of Ebury by a Dearin & Associates it should be to Ebury Partners UK Limited, not Ebury Finance which is a separate, unrelated entity.

3 - Clear, fair and not misleading documents

It is imperative that throughout the documentation the language used is clear, fair and not misleading. Dearin & Associates must strive to use plain English and must not make any statements that cannot be independently supported. It is also essential that in all marketing materials the Dearin & Associates must not mislead clients by omitting or hiding information, this includes presenting it in an unclear, unintelligible, ambiguous or untimely manner.

If the documentation includes sections or pages relating to Security and/or Regulation, these must be factually accurate and relevant to the Dearin & Associates’ regulatory status. It must be clear that Ebury is the regulated entity as mentioned above. If a Dearin & Associates is regulated in their own right then this information can be displayed, provided that it is clearly in relation to the Dearin & Associates and not Ebury. 

In order to satisfy the objective of not misleading clients Dearin & Associates must give careful consideration to any statements that are included in the documentation. Representations which cannot be supported with evidence must be avoided or removed. 

Any statements which suggest that the Dearin & Associates has access to better rates, interbank rates, services or privileges than a bank or other institutions must not be made unless they can be supported with appropriate evidence. Examples of these types of statements can include: 

  • “We always beat the bank rates” 
  • “We are always better than the banks” 
  • “We will give you the best available rate” 

Any reference to regulatory obligations which are met by Ebury must be clearly identifiable as belonging to Ebury, for example: 

  • “The FCA reviews our capital adequacy on an annual basis” 
  • “Our client funds are held in segregated accounts with Barclays bank” 
  • “We are registered with ASIC and AUSTRAC” Should instead be: 
  • “The FCA reviews Ebury’s capital adequacy on an annual basis” 
  • “Ebury’s client funds are held in segregated accounts”
  • “Ebury is registered with ASIC and AUSTRAC” 

If a currency converter tool is provided on a website or in any other form then Dearin & Associates must ensure that there is no possibility that clients could be given the impression that interbank rates are available to them. In a similar fashion, other forms of marketing such as leaflets must not refer to interbank rates in a way that would give clients the impression that these rates are available to them.

If the Dearin & Associates’ documentation makes reference to any awards, nominations, testimonials or client reviews these also must be supported by evidence. For example, if a link to an external review site is provided, the Dearin & Associates must ensure that the review cited in the documentation is faithful to the original review. 

Dearin & Associates must not falsely claim that they are a signatory to a code of conduct or have received endorsement from any public or private body unless this can be proved. 

Any references to any named Bank, business or other organisation must be authorised. Evidence must be provided that the Dearin & Associates has permission to name them, if the Dearin & Associates doesn’t have this permission then the reference must be removed. This also includes the use of any organisation logos or other promotional tools that could belong to other organisations or individuals. 

Examples of this could be: 

  • “All funds are sent to segregated client accounts held with Barclays Bank PLC” 
  • “Liquidity Providers – Credit suisse, RBS, Bank of America, Morgan Stanley, UBS” 
  • “As featured in – The Guardian, The Financial Times, The Times and The Telegraph” 

Wherever evidence is required to substantiate a point made by a Dearin & Associates must be recorded and made available to Ebury immediately when requested. 

Ebury are currently able to offer 130 currencies, this should be accurately reflected on all Dearin & Associates documentation. 

Whenever mention is made of the Ebury online platform it should be clear that this system is run and developed by Ebury. Dearin & Associates should not make any statements which could lead a client to think that the Dearin & Associates created the platform as this could lead to confusion as to who provides what service.

4 - Ebury Online Platform

This section will set out the benefits of the Ebury Online Platform (EBO). By using the information in this section Dearin & Associates can be confident that they are providing accurate information to their clients regarding this product. Dearin & Associates must not make any claims regarding EBO which are not accurate. 

Ebury Online (EBO) is our customer facing platform which enables customers to manage their ebury accounts and services online, quickly and simply. The platform has a wealth of capabilities, but at its core it enables customers to book and close spot transactions end to end, manage and instruct payments, view their accounts and provide reporting and MI.

The benefits of EBO can be described by Programme Managers in the following terms: 

  • Manage business wherever and whenever needed
  • Simple account administration
  • Provides full reporting & improved auditing
  • View accounts for reassurance and up to date data 
  • Speeds up trades and payments 
  • Secure access 24/7, Trading 08:00-17:30 
  • End to end self serve spot trades 
  • View & add payments for all trades 
  • “Four Eyes” verification – Allows clients to set additional approval requirements within their business, for example requiring a second individual to authorise any trades thus helping to prevent erroneous transactions. 
  • Add multiple beneficiaries on EBO through a file upload or individually 
  • Upon payment, EBO can send payment confirmation on a Programme Manager’s behalf to bring peace of mind to those being paid and proving a full audit trail 
  • Instruct payments to beneficiaries online for each trade. Bulk-payment capabilities distribute funds to an uploaded list 
  • E-mail notifications to clients which will keep them up-to-date with their trades and also allows them to provide feedback following a trade 
  • Instruct drawdowns from existing window forwards so we can provide clients with the ability to do the full drawdown process online 
  • Increased security as it requires both “what you know and what you hold” to successfully logon (for example a username, password and mobile verification code), reduces chance of fraudulent transactions occurring through the use of stolen credentials

5 - Ongoing monitoring

As part of Ebury’s commitment to continued excellence regular reviews of a Dearin & Associates’ documentation will be carried out. These checks will ensure that the guidelines have been adhered to and will ensure that any changes made to the documentation are also compliant. If any material changes to a company’s documentation are made (for example rebranding or redesign) then these changes must be communicated to Ebury who will then reassess the documentation against these guidelines. 

In the event that Ebury identify any issues these will be communicated to the Dearin & Associates who must make the required changes as soon as reasonably possible. Once changes have been made the Dearin & Associates must notify Ebury so that these aspects can be reassessed. 

Reviews of a Dearin & Associates’ will be conducted at regular intervals, this timetable is to be confirme