Account Security & Corporate Structure
LOM maintains a full-time compliance department to monitor operations, and implement and enforce policies necessary to protect both the firm and its clients. Additionally, the department manages client credit and margin lending, client complaints, risk management, internal security matters, internal audit, compliance with government and industry regulations, legal matters, client account documentation, due diligence, and securities pricing. We have committed substantial resources towards ensuring your account security and safety.
LOM is a publicly-held, international financial services company, providing a complete range of investment services and products through its subsidiaries in Bermuda and the Bahamas. In business since 1992, LOM provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world.
LOM has 25 employees worldwide, with offices in Bermuda, the Bahamas and London, UK. All transactions are cleared by Global Custody & Clearing Limited in Bermuda, which provides custody, clearing, trading and administrative services to LOM’s affiliated companies. Also in Bermuda are LOM Asset Management Limited (providing discretionary investment management, proprietary research, and administration of several LOM mutual funds), LOM Capital Limited (providing corporate finance and Bermuda Stock Exchange listing services), LOM Services Limited (providing the Group with Finance, HR and Information Technology support), and LOM Nominees Limited and Donald & Co Limited, used to hold client assets in nominee name. LOM (UK) Limited serves as an introduction point for European clients.
LOM (Holdings) Limited is publicly traded on the Bermuda Stock Exchange (symbol: LOM BH) and is the parent to all of the operating companies of the LOM Group of Companies. The consolidated group is debt-free and has shareholder’s equity of $17 million.
Regulation and Controls
Individual LOM affiliates are regulated by the Monetary Authorities in their particular jurisdiction.
Global Custody & Clearing Limited, LOM Securities (Bermuda) Limited, and LOM Asset Management are licensed to conduct Investment Business by the Bermuda Monetary Authority.
LOM Securities (Bahamas) Limited is regulated by the Securities Commission of the Bahamas (www.scb.gov.bs).
LOM (Holdings) Limited and all of its affiliated companies are audited on an annual basis by Deloitte. The company produces annual financial statements which are filed with the Bermuda Stock Exchange and the local regulatory authorities. Recent financials are also available on LOM (Holdings) Limited - Financial Statements
Global Custody & Clearing Limited has been a member of the Bermuda Stock Exchange since 1995. (www.bsx.com)
LOM is a member of the international SWIFT (Society for Worldwide Interbank Financial Telecommunications) network, allowing secure communications with all major banks and custodians around the world. (www.swift.com)
LOM is approved as a Qualified Intermediary for the holding of U.S. assets (http://www.irs.gov/businesses/international
LOM is also a member of the Bermuda International Business Association (BIBA), which works with Bermuda resident companies to develop and promote the island as the pre-eminent offshore and financial services jurisdiction. (www.biba.org)
LOM has a Financial Institution policy and a Bankers Crime & Lloyds Electronic & Computer Crime policy underwritten by several syndicates at Lloyd’s and arranged through a registered Lloyds broker.
Custody and Security of Assets
LOM uses an international network of well known, top-tier banks for the sub-custody of client assets. For an additional level of protection, free cash balances of non-margin clients are segregated daily. LOM has received a legal opinion confirming that assets held in non-margin accounts would be protected in the unlikely event of the company’s insolvency. LOM accounts for and tracks client assets through its Investment Management software, developed by a leading provider for the London financial community, and is audited on an annual basis to ensure this separation of assets is being carried out properly.
The LOM Group’s Global Network of securities brokerages have sales operations based in Bermuda and the Bahamas.
LOM clears its own trades, and provides full time in-house Research, Compliance and an active Corporate Finance team. LOM is able to execute transactions in effectively every market in the world. LOM deals in 28 different currencies worldwide, and in all classes of securities, including equities, bonds, options, mutual funds, futures, commodities, and foreign exchange. Professionalism and service are the cornerstones to LOM’s approach to business.
Each jurisdiction in which LOM operates has strict legislation in place to prevent money laundering or the deposit of assets or funds which are the proceeds of criminal activity. LOM is committed to complying with these regulations in full. Every prospective client must provide satisfactory verification of identity, background information and references.