Currencycloud

Legal and Regulatory

The following information applies only to clients who are serviced through Tenora's Global Business Introducer arrangement with the Currency Cloud (Currencycloud). You will be notified in writing prior to onboarding, and in the applicable Terms, if this applies to you.

The information below sets out the regulatory framework governing the payment and e-money services made available to you through our partnership with Currencycloud and explains how your funds are protected.

Who will you Enter into a Contractual Relationship With?

You will enter a contractual relationship with Currencycloud, a Visa company authorised by the UK Financial Conduct Authority (FCA) as an Authorised Electronic Money Institution (FRN: 900199). While Tenora acts as your primary point of contact and relationship manager, all regulated services - including the issuance of electronic money, payment execution and currency conversion - are provided by Currencycloud. You will be asked to accept Currencycloud's Terms of Use during the onboarding process.

Tenora does not provide regulated services to clients onboarded through this arrangement. Tenora's role is limited to acting as an introducer and relationship manager on a non-exclusive basis.

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Authorised Payment Service Providers

Payment and e-money services are provided by one of the following regulated entities depending on your location.

• UK-domiciled clients are serviced by The Currency Cloud Limited
  Registered in England & Wales, company number 06323311.- Registered office: 1 Sheldon Square, London, W2 6TT, United Kingdom.
  Authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).
• EEA-domiciled clients are served by CurrencyCloud B.V.
  Registered with the Dutch Chamber of Commerce in the Netherlands, registration number 72186178.
  Registered office: Mr. Treublaan 7, 1097 DP, Amsterdam, Netherlands.
  Licensed and regulated by De Nederlandsche Bank as an Electronic Money Institution (Relation Number: R142701).

How are your Funds Protected

Where terms are signed with Tenora and are underpinned by our Global Business Introducer Agreement with Currencycloud, your funds are managed and safeguarded by Currencycloud.

When funds are posted to your account, e-money is issued in exchange for those funds by Currencycloud, an Electronic Money Institution. In line with regulatory requirements, Currencycloud safeguards your funds - meaning the money behind the balance you see in your account is held at a reputable bank and, most importantly, is protected for you in the event of Currencycloud's or our insolvency.

How to Raise a Complaint

We are your primary point of contact for any questions, concerns, or complaints. All complaints are managed in accordance with our complaints process, and we will acknowledge your complaint within 1 business day.

We work with Currencycloud, who ultimately provides you with regulated payments and e-money services. Currencycloud has certain obligations as a regulated financial services institution, including in relation to complaints. We keep them informed of the complaints we receive regarding the regulated payments and e-money services they ultimately provide to you, and they oversee how we handle complaints to ensure we meet the standard required under the applicable regulations.

If for any reason your complaint has not been acknowledged or dealt with by us, or if you have concerns about how it has been handled, you can access Currencycloud's complaints information directly: View Currencycloud's full complaints procedure

This page reflects the regulatory arrangements in place as part of Tenora Financial Solutions Limited's partnership with Currencycloud. If you have any questions about these arrangements, please contact us directly.