Our Standard
Commercially assessed. Independently verified. Then introduced.
Most opportunities in regulated markets are presented on the strength of what a company intends to do. Regulators record something narrower: what it is permitted to do, under which authorization, at which site, until when.
Our Standard
NAR Verified is the standard we apply before an opportunity reaches a client. It is included in every engagement.
The commercial assessment comes first.
Whether the economics work, where margin sits, what the counterparty actually needs, and whether the transaction can be executed in the form proposed. A perfectly licensed counterparty in a deal that does not clear is still not an opportunity.
The commercial assessment comes first.
Whether the economics work, where margin sits, what the counterparty actually needs, and whether the transaction can be executed in the form proposed. A perfectly licensed counterparty in a deal that does not clear is still not an opportunity.
Then the permissions.
Every answer carries its source and the date it was checked. Where a position cannot be established, we report it as unclear rather than resolving it in the client's favor.
Sources include state regulators in the United States, and in Europe Swissmedic, EudraGMDP, SÚKL, BfArM and the relevant commercial registers.
Why this matters commercially
Not because permissions are difficult to look up. Our clients have lawyers and compliance teams who can read a register. It matters because a transaction assembled around the wrong assumption fails late, after time, money and reputation have gone into it. Establishing the position at the start is cheaper than discovering it at the term sheet.