Jun 13, 2012 14:00 BST Insurance Premium Tax solution provider Impendulo today announced the official release of its IPT Engine® API (application programming interface), the first of its kind in the industry.
IMPENDULO ANNOUNCES REGULATION BY FINANCIAL SERVICES AUTHORITYJul 19, 2011 13:14 BST
London – 19th July 2011 FOR IMMEDIATE RELEASE
Insurance Premium Tax solution provider Impendulo today announced that it is now regulated by the Financial Services Authority (FSA).
“This is a major achievement for a small, independent consultancy,” says Impendulo MD Chris James, “and it puts us in a unique position. We’re now authorised to hold and move client funds, and to provide insurance mediation. It’s another clear differentiator for us.”
Peace of mind and total confidence
FSA regulation is a key part of Impendulo’s strategy and underpins two of its core offerings.
Its Client Money Services provide client banking facilities with partners CaxtonFX, including segregated funds, bespoke money and foreign exchange solutions, and payment to tax authorities across the world. With significant sums involved, clients now have the peace of mind of knowing that the process meets stringent FSA guidelines.
Impendulo’s Consultancy Services offer ongoing expert advice and guidance, plus a tailored IPT strategy that streamlines the process, reduces the tax burden and ensures compliance. FSA regulation helps reassure clients that the tax mediation they receive is of the highest possible standard.
Global solutions and new possibilities
In addition, regulation will allow Impendulo to offer advice and develop solutions for non-admitted insurance across the European Union. This is a major benefit for global insurers who are seeking to write insurance business in a regulated and authorised way in the EU.
Since launch in late 2010, Impendulo has established itself as a key player in the insurance tax market, already winning business from large global insurers and captive insurance companies.
"FSA regulation now takes the company to a whole new level,” says Chris James, “and opens up lots of possibilities. In a market where all of our clients need to be regulated, they really appreciate it that they’re dealing with an FSA-regulated company. It makes due diligence much easier, and creates the confidence and trust that are critical in this market.”