Migration to Lightyear U.K. Ltd
We’re happy to let you know that the Financial Conduct Authority (FCA) has directly authorised Lightyear UK, a company under the Lightyear group. As of 30 December 2024, we have migrated all UK customers and their assets from Lightyear Financial Ltd to our newly regulated entity Lightyear U.K. Ltd.
What’s changed?
Account set-up
Previous set-up: all personal and business accounts were provided by Lightyear Financial Ltd, which was an authorised as an appointed representative of RiskSave Technologies Ltd.
- As a Lightyear customer residing in the UK, you were entered into i) the Terms of Service with Lightyear Financial Ltd and ii) the Broker Agreement with Lightyear Europe AS.
- Lightyear Europe AS acted as the broker and custodian for safeguarding your assets.
Current set-up: All personal and business accounts of Lightyear customers based in the UK have been migrated and assets transferred to Lightyear UK.
- Your customer agreement is only with Lightyear UK (Lightyear U.K. Ltd), who’ll serve as a custodian for safeguarding your assets.
- Lightyear UK has taken on any claims, complaints, liabilities, entitlements and anything else that you had in place with Lightyear Financial Ltd until 30 December 2024.
- After migration, we sent you the new bank details for any manual transfers.
FSCS protection
Assets of Lightyear UK customers are protected up to the FSCS limit of £85,000 per customer, per financial institution. This came into force after we completed the migration of your assets; the protection scheme for your assets has changed from the Estonian Investor Protection Sectoral Fund (the scheme for Lightyear Europe) to Financial Services Compensation Scheme (FSCS – the scheme for Lightyear UK).
Other changes
- Data controller: Lightyear UK is the new data controller in respect of your personal data.
- No negative changes to the service or support you get: you’ll continue to get the same quality of service, and pricing will not change as a result of this.
- ISAs for personal accounts: Lightyear UK Terms of Service include new product-specific provisions for Cash ISAs and Stocks and Shares ISAs for personal accounts.
When did the change occur?
All accounts of Lightyear customers based in the UK - including all uninvested cash and assets - were migrated to Lightyear UK on 30 December 2024
From 30 December 2024, the Lightyear UK Terms of Service (for both personal and business accounts) and other relevant documents listed below apply to your relationship with Lightyear UK.
If you have any questions, please email to support@lightyear.com. We’re happy to help!