Split company structure
The Group’s ultimate holding company is Meteor Capital Group Limited (MCG) with two UK authorised subsidiaries: Meteor Asset Management Limited (MAM) and Meteor Investment Management Limited (MIM). This structure has been designed to provide the best possible service and maximise investor protection by utilising our first class administration and robust reporting and compliance regimes.
MAM is responsible for product development and marketing, whilst MIM undertakes the administrative side of the business, including custody of client money and assets, as well as third party administrative services. For further information on the custody of client money and assets, please refer to the Client Money Flowchart section in the Services and support section of our Structured Products menu.
MIM and MAM are authorised as BIPRU 125k Limited Licence firms. However the benefit of all contracts and transactions are held by the parent company, MCG.
Both MIM and MAM hold cash on deposit sufficient to meet the needs identified in their respective ICAAPs (Internal Capital Adequacy Assessment Process), including the ability for either company to administer all accounts for a period of at least 8 months following any of the other group companies becoming insolvent. This length of time is considered adequate for an orderly disposal of the book of business, allowing the company that is responsible for the administration to continue to make income payments, process surrenders and maturities, and deal with all the other administration matters without the interruption caused by insolvency procedures.
All client assets are registered in the name of Meteor Nominees Limited and held in a client custody account with HSBC in the name of Meteor Nominees Limited. Meteor Nominees Limited is a non-trading wholly owned subsidiary of MIM.
Meteor Asset Management Limited – 459325
Meteor Investment Management Limited - 496880
Please refer to the FCA Register for further details.