The PCS group is headed by Prime Collateralised Securitisation (PCS) Europe asbl, a Belgian law not-for-profit association based in Brussels.
PCS Europe operates through two companies which provide the whole suite of PCS services, including STS verifications and labels.
The first company is Prime Collateralised Securities (PCS) UK Limited – PCS UK – a United Kingdom company based in London with its registered office at 61 Queen Street, London EC4R 1EB.
The second is Prime Collateralised Securities (PCS) EU sas – PCS EU – a French company based in Paris with its registered office at 4 Place de l’Opéra, Paris, 75002,
Both PCS UK and PCS EU are wholly owned subsidiaries of the PCS Association.
PCS UK is authorised as a third party verification agent under the STS Regulation (as incorporated into British law on the UK’s exit from the European Union) by the United Kingdom Financial Conduct Authority .
PCS EU is authorised as a third party verification agent under the STS Regulation by the French Autorité des Marchés Financiers .
Although PCS UK is a normal English limited company and PCS EU a normal French company, they have both undertaken to the PCS Association to operate on a “not-for-profit” basis, seeking as best they can to minimise any surplus funds and using any such surplus funds to decrease the cost of providing services to the market or to make those funds available to the PCS Association so that it may use them to advance the purposes of the PCS initiative. (It should be noted though that neither PCS UK or PCS EU is a registered charity in the United Kingdom, France or anywhere else).