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Omgeo is committed to conducting our business in compliance with all laws and regulations applicable to our business including the requirements of the United States Security and Exchange Commission (SEC), the United Kingdom Financial Services Authority (FSA) and the Ontario Securities Commission (OSC).
Information regarding specific applicable laws and regulations as well as Omgeo's SSAE 16 program are listed below.
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Several Omgeo services are subject to regulation by the U.S. Securities and Exchange Commission (“SEC”). Omgeo TradeSuite and Omgeo TradeMatch, which are U.S.—based electronic trade confirmation and central matching services, are subject to SEC regulation. Omgeo OASYS Global, which is an electronic trade confirmation service, is subject to SEC regulation when the service is used to satisfy rules of U.S. self-regulatory organizations that require the electronic confirmation and affirmation of certain trades settling in the U.S. Those trades are ones in which the broker-dealer provides delivery-versus-payment or receive-versus-payment privileges to its customer. Omgeo Central Trade Manager, which is a central matching service, is subject to SEC regulation when the service is used for trades in which either the broker-dealer or its institutional customer is a U.S. entity and the securities in the trade are issued by a U.S. issuer. The SEC regulation of Omgeo is set out in an SEC order granting an exemption from registration as a clearing agency to a subsidiary of Omgeo. The order is contained in SEC Release No. 34-44188; File No. 600-32; 66 FR 20494 (April 17, 2001).
The Board of Governors of the Federal Reserve System, the Office of the Controller of the Currency and the SEC have issued an Interagency Paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System (the “Interagency Paper”). The Interagency Paper identifies sound practices for core clearing and settlement organizations and firms that play significant roles in critical financial markets. The sound practices, which are designed to help protect the U.S. financial system from the risks of a wide-scale disruption, focus on establishing back-up facilities to recover and resume clearing and settlement activities. Organizations that fall within the scope of the Interagency Paper are expected to adopt the sound practices. The SEC staff has advised Omgeo that Omgeo is considered to be a core clearing and settlement organization for purposes of the Interagency Paper’s requirements. Omgeo’s business continuity plans reflect those requirements. The Interagency Paper is contained in SEC Release No. 34-47638; File No. S7-32-02; 68 FR 17809 (April 7, 2003).
Regulation of Omgeo in the United Kingdom
Omgeo Limited (Omgeo) has been authorised by the Financial Services Authority (FSA) to carry out regulated activities in the UK as a Service Company. Oasys Global, Omgeo Central Trade Manager and Omgeo ALERT systems, are regulated services.
SSAE 16 (formerly known as SAS 70)
Omgeo maintains a SAS 70 Type II certification for its most widely used solutions. SAS 70 is an auditing standard developed by the American Institute of Certified Public Accountants (AICPA). Omgeo's SAS 70 supports data accuracy, security and processing timeliness. For more information about Omgeo's SAS 70, please contact compliance@omgeo.com.
Omgeo’s Anti-Money Laundering / Global Economic Sanctions Overview
Omgeo (the “Company”) and its employees are committed to adhering to applicable money laundering and/or related rules or regulations, including laws and regulations enforced by the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”).
The goals of the Anti-Money Laundering (“AML”) / Global Economic Sanctions (“GES”) Compliance Program are to enable Omgeo to conduct its business in compliance with AML, OFAC and GES laws, and to manage and mitigate related risks. To this end, Omgeo has implemented formal policies and procedures that constitute a comprehensive Know Your Customer (“KYC”) program.
Every prospective client is subject to KYC due diligence. The Omgeo Compliance Department uses client information obtained from completed KYC questionnaires, in addition to client information obtained from other sources, to conduct this diligence. Omgeo may request additional information about its customers. Such requests may include principal & ownership name(s), date(s) of birth and passport information. Omgeo will not disclose client information to third parties, unless required to do so in order to comply with applicable laws, regulations, or service of process.
Anti-Bribery & Corruption
Omgeo is committed to compliance with the anti-bribery and corruption laws of the countries in which it does business, including the United Kingdom Bribery Act of 2010 and the United States Foreign Corrupt Practices Act. Omgeo and its agents, partners and employees are forbidden from offering or providing any payment or benefit designed to improperly influence an individual, a company or a governmental official to act in a way that gives Omgeo an improper advantage.
To learn more or if you have any questions, please contact Omgeo’s Compliance Department at compliance@omgeo.com. We thank you in advance for your cooperation.
