Governance

Tenora is committed to operating with transparency, accountability and regulatory integrity. This page sets out how we are structured, regulated and how we protect the interests of our clients across our foreign exchange, risk management and payment services businesses.

Regulatory Status and Permissions

Tenora is authorised by the Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI) under the Electronic Money Regulations 2011, (Firm Reference Number: 1030641).  

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Our authorisation permits us to issue electronic money and provide payment services. All activities are conducted strictly within the scope of our regulatory permissions.

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You can verify Tenora's regulatory status at any time on the FCA Register.  

Safeguarding of Client Funds

The protection of client funds is a core to how Tenora operates. As an authorised EMI, Tenora is required under the Electronic Money Regulations 2011 (EMRs) and the Payment Services Regulations 2017 (PSRs) to safeguard all Relevant Funds received from clients.

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Tenora safeguards Relevant Funds primarily using the segregation method. Under this method, Relevant Funds are held separately from Tenora's own funds in one or more Designated Client Accounts maintained with authorised credit institutions in accordance with applicable law. Client funds are never commingled with Tenora's own corporate assets.

Details of the credit institutions with which Tenora maintains its Designated Client Accounts are available upon request.

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Our safeguarding arrangements are reviewed and monitored by the Risk Management Committee and are subject to regular independent audit.

Governance Structure  

Tenora operates a two-tier governance model which separates independent group-level oversight from the executive management of its regulated activities. This structure ensures that appropriate challenge, accountability and regulatory oversight are maintained at every level of the organisation.

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For queries regarding our regulatory status or governance framework, please contact compliance@tenora.com.

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This information is provided for transparency purposes and does not constitute legal or financial advice.