Our Company Regulations

The financial advisers trading under SJB Global/BFMI are members of Nexus Global (IFA Network). Nexus Global is a division of Blacktower Financial Management (International) Limited (BFMI). All approved members of Nexus Global are appointed Representatives of BFMI. BFMI is licensed and regulated by the Gibraltar Financial Services Commission (FSC). Licence Number 3647.

All approved individual members of Nexus Global are Appointed Representatives of Blacktower Financial Management (International) Limited (BFMI). BFMI is licensed and regulated by the Gibraltar Financial Services Commission (FSC).

The Financial Services Commission regulates the financial services industry in Gibraltar. The FSC supervises a broad range of firms including: auditors, banks, company managers, e-money institutions, professional trustees, payment services providers, funds and fund service providers, insurance companies, managers and intermediaries, investment firms, and insolvency practitioners.


Nexus Global EU is a division of Blacktower Financial Management (Cyprus) Limited (BFMCL) and Blacktower Insurance Agents & Advisors Ltd (BIAAL).  SJB Global is an Appointed Representative of BFMCL which is licensed and regulated by the Cyprus Securities & Exchange Commission (CySEC) – Licence No. 386/20

SJB Global is an Appointed Representative of BIAAL which is licensed and regulated by the Insurance Companies Control Service (ICCS) – Licence No. 5101


Nexus Global

Nexus Global specialises in providing a regulatory platform and compliance support to international financial advisers and intermediaries to enable them to meet the regulatory requirements of EEA (European Economic Area) financial regulators and to provide their clients with a professional service.

The intermediaries Nexus Global represent, provide face-to-face advice and specialise in meeting the financial needs of people or companies that have created more capital, or who earn higher incomes, than average, and whose circumstances are therefore more complicated than usual.



Complaints Procedure

It is important that we hear any concerns you have regarding the services we offer.

Should you have a complaint we ask that you inform Nexus Global Head Office in the first instance. Head Office will then review and make contact with the relevant office. If you have already spoken to someone regarding your complaint, please include their name in your correspondence as this will assist in your complaint being answered more promptly. Complaints can be emailed to [email protected] or you can also write to:-

Nexus Global
Suites 34 & 43 Victoria House
26 Main Street
PO Box 1354

Nexus Global will endeavour to respond to all complaints within 14 days of receipt.

If you do not feel that your complaint has been resolved satisfactorily by Nexus Global, you may refer the matter to the Financial Services Commission, P.O. Box 940, Suite 3, Ground Floor, Atlantic Suites, Europort Avenue, Gibraltar.

It is useful for the FSC to be aware of complaints against firms it supervises. The FSC has no statutory powers to neither undertake the role of an ombudsman in respect of complaints nor act as arbitrator in commercial disputes.


Insurance Distribution Directive (IDD)

There are normally two lines of Insurance that can be advised on via IDD; (1) General Insurance – things like Car/House Insurance etc and (2) Life Insurance – protection for Life; Critical Illness amongst other products. Also included under Life Insurance will be ‘Bonds’ also known as ‘Wrappers’ – these are contracts issued by Life Companies that hold ‘investments’.

Under IDD we have permission to recommend ‘Wrappers’ and provide Investment Advice on the underlying Portfolios.


Markets in Financial Instruments Directive (MIFID)

There are several layers of permissions here that can be applied for depending on the type business you are. MIFID covers the likes of Banks; Fund Management Companies to name a couple. As ‘Intermediaries’ we have a lower level of permission under MIFID which is restricted to providing Investment Advice on what is known as ‘Collectives’ – typically we will discuss with you building an investment portfolio using Collective Investments – Funds.

We therefore, under MIFID, can provide you with Investment Advice and receive/transmit your orders – without the Investment sitting within a ‘Wrapper’; so they are likely to be on a ‘Platform’ type basis (No Life Company involved and/or insurance contract).


Product Governance Committee

We are required to conduct ongoing due diligence on all the providers we work with to ensure that they remain suitable to our target market. We predominantly advise in the ‘Retail’ market – so will restrict our advice to ‘Retail Solutions’.


Advice on transferring a Defined Benefits Occupational Pension Scheme (or any UK based pension which has Guaranteed Benefits)

BFMI is not licenced to provide advice on the suitability of a transfer of a DB Scheme; following changes to UK Pension Legislation, advice for the suitability of such a transfer must be conducted by a UK FCA Pension Transfer Specialist. BFMI introduces clients to carefully selected Gold Standard (PFS Accredited) UK FCA Pension Transfer Specialists.


Advice relating to Malta Based Pensions/ROPS

The Maltese Authorities have made numerous changes to Pension Advice Legislation – From the 1st of July 2019 depending on whether you hold IDD / MIFID or both will determine what services you will be permitted to provide a client holding a Malta Based Pension.

As BFMI hold both IDD and MIFID – there will be no change for us; it is business as usual.

SJB Global/BFMI is a member of FEIFA which is a trade association that represents English-speaking Financial Advisers operating throughout mainland Europe. Whilst it exists to assist such businesses and individuals, it also aims to increase professional and technical standards of advice for the ultimate benefit of consumers.


SJB Global