Clarksons Securities AS is authorised as an investment firm and is under supervision by the Norwegian Financial Supervisory Authority. Clarksons Securities, Inc. is regulated by the Financial Industry Regulatory Authority and Securities Exchange Commission in the USA.
The Compliance department oversees Clarksons Securities regulatory requirements and seeks to ensure that Clarksons Securities conduct its activities in accordance with applicable laws and standards. On this page you will find terms and documents relevant for the services provided by Clarksons Securities.
Key information
About us
Jørgen Lund, Chairman
Jørgen Lund (b. 1953) has been the Chairman of the board since March 2010. Mr. Lund has 32 years of experience as a business lawyer; maritime lawyer with Nordic Defense Club (1980 - 1986), partner in the law firm Lund & Co (1986 - 1993) and partner in the law firm Thommessen (1993 - 2012), including four years as its managing partner. In 2012 he left his law practice to become the Executive Chairman of the J.J. Ugland Companies, a private shipping and industrial group headquartered in Norway. Mr. Lund has previously been a board member of several companies within the shipping, oil & gas and financial industries. Mr. Lund holds a law degree from University of Oslo (1978) and a Master of International Management from Thunderbird Business School, USA. Mr. Lund is a Norwegian citizen and he resides in Oslo, Norway.
Ragnar Horn, Board member
Ragnar Horn (b. 1962) was elected as a new board member in March 2016. Mr. Ragnar Horn is the Chairman of Clarksons AS, a position he has held since 1999. As an investor, Mr. Horn also serves as Director of a number of private and public boards, including Eiendomsspar AS and Victoria Eiendom AS. Mr. Horn holds a BA from Williams College and MBA from Harvard Business School. Mr. Horn is a Norwegian citizen and resides in Oslo, Norway.
Birger Nergaard, Board member
Birger Nergaard (b. 1951) has been a board member since March 2010. Birger Nergaard founded Four Seasons Venture AS ( later renamed Verdane Capital AS) in 1985 and was its managing partner through 2008. He is today involved in Verdane Capital through executive directorships in Verdane Capital funds V, VI, VII and VIII. He is a board member of Clarkson Plc. which is listed on the London Stock Exchange. Furthermore he is a board member of Clarksons Shipbroking AS, and a member of the remuneration committee at Clarkson Plc. Mr. Nergaard also serves as a board member of Marine & Merchant Bank and the holding company for Nets AS, in addition to being an independent advisor for one of the world largest P/E funds, Advent International in Norway and the Nordics. Mr. Nergaard also played an active role in the initiative to establish the Norwegian Venture Capital Association in 1987 and was the Associations first chairman. The Association was later restarted in 2001. In 2006, Mr. Nergaard was awarded His Majesty King Harald V's Gold Medal for Achievement for pioneering the Norwegian venture capital industry. Mr. Nergaard holds a law degree from the University of Oslo (1977). Mr. Nergaard is a Norwegian citizen and resides in Oslo, Norway.
NORWAY
Clarksons Securities AS is registered in the Norwegian Registry of Business Enterprises with organisation number 942 274 238. Clarksons Securities AS is licensed and supervised by the Financial Supervisory Authority of Norway (“NFSA”).
Clarksons Securities AS is a member of the Norwegian investor compensations scheme. The Norwegian Investor Compensation Scheme covers claims arising out of an investment firm’s financial inability to repay money owed to or belonging to investors and held on their behalf in connection with investment business; or return to investors any financial instruments belonging to them and held, administered or managed on their behalf in connection with investment business. For more information, see link below.
Clarksons Securities AS is also a member of the Norwegian Securities Dealers Association, a national trade organization for investment firms.
UNITED STATES
Clarksons Securities, Inc.is a registered securities broker-dealer subject to regulation by the Securities and Exchange Commission ("SEC") and the Finacial Industry Regulatory Authority ("FINRA"). The company’s SEC file number is 8-45221. The FINRA registration number is 30882.
Clarksons Securities, Inc. is a also a member of the Securities Investor Protection Corporation (“SIPC”), which protects investors cash and securities held by the brokerage firm up to US$ 500,000, including a US$ 250,000 limit for cash. More information can be found by using the link below.
RELATED LINKS
NORWEGIAN FINANCIAL SUPERVISORY AUTHORITY
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Other information
Information to clients
Client Communication
Documentation of Client communication
Norwegian securities firms are required to record all telephone calls in relation to investment services and to establish procedures to enable documentation of communication through other communication channels. Clarksons Securities AS records fixed telephone lines and cell phones used by our equity and credit sales personnel and certain other staff. In addition, communication via e-mail, SMS and Bloomberg will be stored for 5 years.
Clarksons Securities AS has established routines and policies in order to secure that privacy of clients, employees and third parties are safeguarded and that sensitive information is not subject to abuse.
Clients may upon request inspect the calls in question at the premises of Clarksons Securities AS. More information can be found in clause 4 in our General Business Terms.
Telephone Recordings
As part of our compliance with applicable laws and regulations, certain telephone conversations with Clarksons Securities AS’ personnel may be recorded. Please note that these recordings may be made with or without the use of a spoken warning, tone or similar notification.
Client complaints may be forwarded to e-mail. All complaints will undergo a thorough examination. We will revert in writing as soon as we have assessed the complaint.
Our clients may also free of charge forward complaints to Norwegian Securities Dealers Association’s Ethics council (page only available in Norwegian).
More information can be found in clause 11 in our General Business Terms.
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International tax reporting
Clarksons Securities AS is required to provide information to the Norwegian Tax Authorities of customers domiciled or resident for tax purposes in the United States (the Foreign Account Tax Compliant Act “FATCA”) or in any country that has signed international agreements to report tax information (Common Reporting Standard “CRS”) which includes all EU/EEA member states.
When entering into a customer relationship with Clarksons Securities AS, you are required to fill out a customer agreement that include, but is not limited to, information of your tax residence, citizenship, tax Identification Number (TIN) and Personal identification number. This information is necessary for us to identify which of our customers we are under a legal obligation to report.
US citizens will be reported to the United States on the basis of their citizenship. US citizens are therefore resident in the US for tax purposes and will be reported to the US tax authorities accordingly. If, in your opinion, you are not tax resident in the United States or any of the countries that has signed a CRS agreement, you must provide documentation that you are no longer a citizen of that specific country and you should fill out and send us a self-declaration form to that effect. You can find the self-declaration form here.
Please refer to skatteetaten.no for more information.
Please note that Clarksons Securities AS is only required to report in the event the client holds either cash or securities through Clarksons Securities AS. Clients with prime broker agreements are reported by the prime broker in question and not by Clarksons Securities AS.
All information Clarksons Securities AS receives on our customers for tax reporting purposes, will be treated in compliance with the Privacy Policy set out on our web-page.
Clarksons Securities is relying on the International Dealer Exemption (the “Exemption”) pursuant to the Canadian National Instrument 31-201 (Registration Requirements and Exemptions) (the “NI”).
This disclosure is in connection with your account(s) and transactions with, and relevant services and products offered by or through:
• Clarksons Securities AS
• Clarksons Securities, Inc.
• Clarksons Securities AS, London Branch
together referred to as the “Clarksons Securities Entity”.
Please note that if you are a client domiciled in Canada, when any Clarksons Securities Entity trades with you, it does so in reliance upon the Exemption from the dealer registration requirement. Pursuant to the Exemption, each Clarksons Securities Entity is subject to trading restrictions, including among other things, that each Clarksons Securities Entity is only permitted to trade “foreign securities” with “permitted clients” resident in Canada. A foreign security is a security issued by an issuer incorporated, formed and created under the laws of a foreign (i.e. non-Canadian) jurisdiction or a security issued by a government of a foreign jurisdiction. A “permitted client” is a Canadian financial institution/bank, a Canadian advisor, investment dealer, mutual fund, entity organized in a foreign jurisdiction etc.
Please also note that none of the Clarksons Securities Entities are registered as a dealer in any Canadian province or territory.
Please see below the names and addresses of the agents for service of process of Clarksons Securities in Canada:
Alberta
c/o Stikeman Elliott LLP
4300 Bankers Hall, 888-3rd Street S.W.
Calgary, Alberta T2P 5C5
Canada
British Columbia
c/o Stikeman Elliott LLP
666 Burrard Street, Suite 1700, Park Place
Vancouver, British Columbia V6C 2X8
Canada
Ontario
c/o Stikeman Elliott LLP
5300 Commerce Court West
199 Bay Street
Toronto, Ontario M5L 1B9
Canada
Quebec
c/o Stikeman Elliott LLP
1155 Rene-Levesque Blvd., 40th Floor
Montreal, Quebec H3B 3V2
Canada
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