GENEVA, Sept. 22, 2014 /PRNewswire-USNewswire/ -- Mercuria announced today that Mercuria Europe Trading Limited (Registered in England) is now authorized and regulated by the Financial Conduct Authority (FCA) under the Financial Services and Markets Act 2000 (FSMA), and is entered in the FCA Register.
"This is an important step for Mercuria, as the FCA regulates the financial services industry. As Mercuria's business model continues to evolve to expand its provision of services, so too does the regulatory oversight of Mercuria," said Victoria Attwood Scott, Global Head of Compliance at Mercuria. "This authorization will enable Mercuria to enhance the services it can offer across the European financial commodities markets, an important and strategic extension of our existing physical business."
"Mercuria has always been subject to regulations and oversight across the globe in all of its activities and takes these responsibilities very seriously. As such, Mercuria views this development as an extension of its existing obligations and regulatory relationships as we broaden the scope of our business," continued Attwood Scott.
Mercuria is a leading energy and commodity group. With a 2013 turnover of USD 112 billion, the Group, primarily focused on energy, is present all along the commodity value chain with activities forming a balanced combination of commodity flows and strategic assets. More than 1,000 people are operating from offices worldwide to sustain the Group's extensive business reach with their market knowledge, diversity, and experience.
"Mercuria is committed to high standards of risk management, provision of services, and internal controls, and respects the regulatory environment in all of the markets in which it operates. Our Group is renowned for being a reliable business partner and the FCA authorization provides us with further opportunity to continue to work openly and in co-operation with the FCA," concluded Attwood Scott.
Mercuria's expertise covers all segments of the energy market, including associated environmental products, and extends to iron ore, dry-bulk freight, base metals and petrochemicals. The Group also invests in upstream oil, gas and coal mining assets around the world. These investments underpin the company's growing presence as a major player in the global market. The Group maintains sound infrastructure capabilities, including oil petroleum products storage terminals and production assets. Its logistics, storage and blending facilities enable Mercuria to deliver a wide range of products on time and anywhere in the world.