LOM is a publicly-held, international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bermuda and the Bahamas. In business for over 24 years, LOM provides asset management, brokerage, custody, corporate finance and family office services to its primarily high net-worth individual and institutional customers located around the world.
All transactions are cleared by Global Custody & Clearing Limited (GCCL) in Bermuda, which provides custody, clearing, trading and administrative services to LOM’s affiliated companies. Excluding the banks, GCCL is the only firm licensed to provide international custody operations from Bermuda. Also located in Bermuda are LOM Asset Management Limited (providing discretionary investment management, proprietary research, and administration of several LOM mutual funds), LOM Corporate Finance Ltd (providing corporate finance and Bermuda Stock Exchange listing services), and LOM Nominees Limited, used to hold client assets in nominee name. LOM (UK) Limited provides IT services and accounting support.
The consolidated group is debt-free.
Regulation and Controls
LOM’s Compliance and Finance departments monitor the Group’s activities and implement policies and procedures necessary to protect both the firm and its clients, and to ensure compliance with relevant regulations and industry standards. The departments manage counterparty risk, internal audit, internal controls and security matters, client credit and margin lending, client account documentation and due diligence, anti-money laundering and anti-terrorist financing policies and procedures, legal matters, reconciliations, risk management and compliance with government and industry regulations. We have committed substantial resources towards ensuring your account security and safety.
LOM affiliates are licensed and regulated by the regulatory authorities in their particular jurisdiction.
Global Custody & Clearing Limited, LOM Financial (Bermuda) Ltd., and LOM Asset Management Ltd. are licensed to conduct Investment Business by the Bermuda Monetary Authority.
LOM Financial (Bahamas) Ltd is regulated by the Securities Commission of the Bahamas
LOM Financial 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 our local regulatory authorities.
Global Custody & Clearing Limited has been a listing sponsor and trading member of the Bermuda Stock Exchange since 1995.
LOM is approved as a Qualified Intermediary for the holding of U.S. assets, and is registered as a participating foreign financial institution under FATCA.
LOM is a member of the Bermuda International Business Association (BIBA), and the Bahamas Financial Services Board (BFS)
Custody and Security of Assets
LOM uses an international network of top tier global banks for the sub-custody of client assets. All client assets are held in trust on behalf of customers. Client cash and assets are segregated on LOM’s books, which are reconciled daily and regularly audited. Unlike a Bank, Client cash and assets are not carried on LOM’s balance sheet. LOM accounts for and tracks client assets through its investment management software, developed by a leading provider for the London financial community, and is independently audited on an annual basis to ensure separation of assets. We are also able to arrange a special segregated account with one of our custodians, State Street Bank & Trust Company, for client accounts greater than US$25,000,000
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 virtually 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.
LOM maintains a Financial Institutions policy underwritten by several syndicates at Lloyds. These include Bankers Crime and Lloyds Electronic & Computer Crime policies.