Legal and regulatory information

Important information about

ADS Securities London Limited (“ADSSL”)

We regret to inform you that ADSSL has decided to withdraw from the UK market and is winding down its business. This follows a strategic decision from ADSSL’s parent company to refocus its resources on other entities within the Group. This means that our FCA regulated entity, ADSSL, will close in due course and we no longer onboard or manage clients from this entity.

If the wind-down of ADSSL impacts you as a former client, vendor, or supplier, you will have received communications from us detailing next steps or any action you may have needed to take.

If you need to contact us, our email is ClientSupport@adss.com.

The ADSS Group remains well capitalised and continues to be focused on its growth strategy. The wind-down of ADSSL will be done in an orderly manner in accordance with our FCA obligations and we remain available to answer any questions you may have.

We thank you for choosing ADSSL as your trading provider and wish you success in the future.

July 2024 update:

ADSSL has now withdrawn from the UK market and has completed an orderly wind down in accordance with FCA obligations. As part of the completion of the wind down our FCA license was cancelled on 23rd July 2024.

If the wind down of ADSSL impacts you as a former client, vendor, or supplier, you will have received communications from us detailing next steps or any action you may have needed to take. If you need to contact us, our email is ClientSupport@adss.com.

The ADSS Group remains well capitalised and continues to be focused on its growth strategy. The wind down of ADSSL will be done in an orderly manner in accordance with our FCA obligations and we remain available to answer any questions you may have.

November 2023 update:

Please note that if you had funds on your ADSSL Account and did not respond to our communications to you, these funds have now been paid away to Great Ormond Street Hospital Children’s Charity and The Royal Marsden Cancer Charity. Your Account(s) have been closed

Any funds paid-away to charity have been treated in accordance with the Financial Conduct Authority’s regulation relating to Client Money, specifically the Client Asset Sourcebook, the unclaimed client money process(es), and approved Modification #00006794. Should you wish to reclaim these funds, ADS Securities LLC has undertaken to reimburse amounts paid to charity. Please contact the firm on ClientSupport@adss.com for details of the process.

General update and Information:

If you had an ADSSL Account without funds or positions:

Please note that if you had an ADSSL trading Account without funds or positions, this was closed on or around 18th April 2023. You would have received notification from us when your Account closure was completed.

If you had an ADSSL Account with open positions:

If you had an ADSSL trading Account with open Positions or pending Orders and you did not close these within the timeframe set out in our communications to you, these were automatically liquidated by us at the prevailing rate at market open on 9th June 2023.

If you had an ADSSL Account with funds:

If you had funds on your Account and did not respond to our communications to you that requested that you notify us how you would like your funds treated, these funds have now been paid-away to nominated charities. Your funds have been treated in accordance with the Financial Conduct Authority’s regulation relating to Client Money, specifically the Client Asset Sourcebook, the unclaimed client money process(es), and approved Modification #00006794. Depending on the value of the funds on your Account(s) at the time of pay-away you may no longer have any statutory right to those funds, and any future claim you may make may be declined. Should you wish to enquire about your ability to claim funds please contact us on ClientSupport@adss.com.

Unclaimed client Funds were paid in equal part to Great Ormond Street Hospital Children’s Charity and The Royal Marsden Cancer Charity.

What about my Account statements?

Please note that if you traded this year, Annual Account Statements for 2023 have been sent. Please let us know if you have not received this and would like a copy.

What will you do with my data?

We will only process your personal data where it continues to be necessary to fulfil your data rights and for us to complete our regulatory obligations. You can read more in our Privacy Notice which can be found on the website here.

Frequently Asked Questions:

A list of our previously communicated Frequently Asked Questions can be found below for your reference, although please note that these are superseded by the information outlined above.

1. If you have a trading Account without positions or funds:

I don’t have any funds or positions – what happens?

We will start the process of closing your account and will email you confirmation when this is done. We expect this to be done on or shortly after the 18th of April. We will notify you when your Account has been closed.

I wanted to reactive my Account and trade – can I do that?

No, your Account has been set to ‘read only’ – meaning you will no longer be able to enter into any new positions or pending orders. Similarly, you will not be able to deposit funds into your Account.

What about my Account statements?

Please let us know if you would like to receive any Account statements and we will email these to you. You will receive an annual statement for 2023 in due course if you have traded this year.

What will you do with my data?

I’ve forgotten my password – how do I login?

You can reset your password here: https://my.adss.com/client-portal-web/uk

2. If you have a trading Account with funds (and no Open Positions):

I wanted to trade on my Account – can I do that?

No, your account has been set to ‘read only’ which means you cannot enter into any new positions, place any new orders etc.

What about the funds on my Account?

In order for us to close your Account in the most efficient manner, you must clear any remaining funds on your Account. You can opt to donate your funds to charity or make a withdrawal request via email to ClientSupport@adss.com.

Are my funds safe with you?

Yes – we continue to hold your funds securely in segregated client money bank accounts with Tier 1 banks as per the FCA rules on client money and asset segregation.

How do I withdraw my funds?

Please send us an email at ClientSupport@adss.com. To process your withdrawal as efficiently as possible, please include a copy of a bank statement dated within the last 3-months. This should contain your current address and details of the Account you wish the money to be returned to. If there has been no activity on your Account for a significant period of time, we may require further details from you to process any payment to ensure that we comply, and your funds are protected by, Anti-Money Laundering and other relevant regulation.

How do I opt to donate my funds to charity?

Please email us at ClientSupport@adss.com if you would like to donate your remaining Account balance to charity. Donated funds will be held in a designated Charity Account held by ADSSL and will remain in this Account until the closure of the business is near to completion. At this point funds will be distributed to nominated, registered charities.

What happens if I don’t withdraw my funds?

Update as of 15.08.2023: If you have an Account with ADSSL with a cash balance you now have just 28 days to claim your funds. Should we not hear from you within this timeframe, depending on the current value of your Account(s) and when you were last active with us, your funds may become unrecoverable, or transferred to an alternative holding arrangement. If we haven’t heard from you in 28-days we will send you a final notification of the steps we have taken and how your funds have been distributed. How we treat your funds is governed by the Financial Conduct Authority’s regulation relating to Client Money, specifically the Client Asset Sourcebook.

Can I deposit more?

No, you cannot make further deposits into your Account. In the event that you deposit additional funds (that are not required to cover margin), we will return these funds to you as soon as practicable.

I’ve forgotten my password – how do I login?

You can reset your password here: https://my.adss.com/client-portal-web/uk

3. If you have a trading Account with Open Positions

I have open positions – what should I do?

Please ensure that you have closed any existing open Positions and closed all pending Orders by the End of Day on the 8th June 2023.

What if I don’t close positions by then?

Any open Positions that are not closed by this date will be automatically liquidated by us at the prevailing price at market open on the following day on 9th June. We strongly recommend that you manage your positions in advance of this date.

What if I’m on margin call?

If you need to deposit funds to cover any open positions, you may do so via the normal process. You will not be able to increase the size of your position once your account has been set to “close-only”.

Will you still charge me financing and other fees?

The Terms of Business and Fees and Charges that govern your Account will remain in place whilst your Account is open.

Are my funds safe with you?

Yes – we continue to hold your funds securely in segregated client money bank accounts with Tier 1 banks as per the FCA rules on client money and asset segregation.

What happens when I’ve closed my positions?

Please ensure that any remaining money on your Account is withdrawn so that we can close your Account in the most efficient manner.

Can I transfer my positions out to another broker?

Ordinarily, we are unable to transfer your positions out to another broker. However, we aim to make this process as easy as possible for you and in specific cases we may be able to facilitate a transfer. Please contact us at ClientSupport@adss.com to see if we are able to assist.

Can you transfer my funds to another broker?

Ordinarily, we can only send funds back via our standard withdrawal process. However, we aim to make this process as easy as possible for you and in specific cases we may be able to facilitate a transfer. Please contact us at ClientSupport@adss.com to see if we are able to assist.

Can you recommend another broker who I can open an Account with?

We are unable to provide specific recommendations for other brokers but can provide a list of several reputable, long-standing FCA regulated brokers serving the UK market. You should then conduct your own research to ensure any broker you may choose to open an Account with suits your needs.

I’ve forgotten my password – how do I login?

You can reset your password here: https://my.adss.com/client-portal-web/uk

4. Clients categorised as a Professional or Eligible Counterparty

My Account is in negative- what happens?

If you have been categorised by us as a Professional Client or Eligible Counterparty any negative equity on your trading Account will become immediately due and payable to ADDSL. We recommend that you rebalance your Account in good time before 8th June. Please contact your Relationship Manager if you have any specific questions – we will try to assist.

5. General FAQs

I want to download my Account statements – how do I do this?

You may access the MY ADSS Client Portal to view and access your Account statements. If you have traded in 2023 you will be sent an Annual statement in due course. If for any reason you can’t access the Client Portal you can request copies of your statements by contacting us at ClientSupport@adss.com.

I have an old Account with you and can’t access the system – what does this mean?

We are required to refresh our ‘KYC’ (Know Your Customer) Information on a regular basis so it may be that your Account has previously been set to ‘Frozen’ status whilst we update the information we hold on file for you. If this is the case, and you have funds on your Account, we may require you to send us up-to-date information like a copy of your Passport, or Bank Statement dated within the last 3-months to enable us to return any funds to you.

Where can I find the communications you have sent me?

We have sent relevant communications to the email address we have on file for you. In the event that we can see that these communications have not successfully been delivered via our Email Service Provider, we will endeavour to contact you by other means.