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 40 Gracechurch Street, London, EC3V 0BT.
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 subsidiary of the PCS Association.
PCS UK became authorised by the United Kindgom Financial Conduct Authority to be a third party verification agent under the STS Regulation on 19 March 2019.
PCS EU is currently in the process of applying for authorisation from the French Autorité des Marchés Financiers to become a third party verification agent under the STS Regulation.
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 generated 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).
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