In line with their publicly stated intent, PCS is working with regulatory authorities and market participants with a view to becoming authorised as a third party certification agent under the STS Regulation.
This will see an expansion of PCS both in terms of staffing and in terms of geography. Anticipating Brexit, PCS – like many other financial sector firms – will be opening in the EU27. Specifically, PCS is looking to establish ourselves in Paris. In the coming months, PCS will also seek to bolster its staff of professionals who shall be tasked with verifying compliance of transactions with the new STS standards. It is anticipating the hiring of three to four additional verification staff in both London and Paris, including one person fluent in Spanish (and possibly Italian).
Full press release
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