Investor compensation and non-EEA service providers Customers of service providers established in non-EEA countries are subject to compensation rules applied in the country where the service provider has its head office.
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FSCS provides protection if an authorised investment firm is unable to pay claims against it.
UCITS managers licensed by the AFM, in as far as related to the management of individual wealth, and managers licensed by the AFM for the management of investment firms, in as far as they are authorised to provide the investment services referred to in Section 2: Financial institutions in possession of a certificate of supervised status and authorised to provide investment services.
Other financial institutions, such as certain Dutch institutions with branch offices in other EU member states, and in as far as applicable, branch offices in the Netherlands of banks and investment firms see below. Branch offices in the Netherlands of banks and investment firms having their registered offices in the EEA may opt for additional coverage under the Dutch ICS if their national ICS offers more limited coverage. Branch offices in the Netherlands of banks or investment firms not having their registered offices in the EEA may also opt for coverage or additional coverage under the Dutch ICS.
This may be done if no ICS applies to these branches that offers coverage on a par with the minimum rules applying in the EEA. Branch offices in the Netherlands of foreign banks or investment firms seeking additional coverage under the Dutch ICS are required to meet specific conditions.
This means that DNB activates the system if has found that a financial institution governed by the ICS is in a state of insolvency. DNB publishes such news on its website and in newspaper advertisements, informing investors how to submit their claims for compensation under the ICS. DNB determines the level of the claim and is responsible for payments under the ICS, which will be made from the investor compensation scheme as much as possible. The Investor Compensation Scheme Foundation is responsible for the management and maintenance of the investor compensation scheme.
Who funds the ICS? The ICS is funded in two ways, depending on the type of financial institution in default. In case of insolvency of a bank that also offers investment services, the amount of money to be paid out under the ICS is divided among the banks according to a procedure that is comparable to the distribution under the deposit guarantee scheme.
In case of insolvency of a financial institution that is not a bank, such as an investment firm, the ICS is financed through an investor compensation scheme designated to refund to DNB the amounts paid out under the ICS. Explain the complaint handling procedure We value your feedback and will endeavour to resolve any expression of dissatisfaction, whether oral or written, at the earliest possible opportunity.
Our complaints handling procedures are as follows: We will send you a written or electronic acknowledgement within 5 business days of our receipt of your complaint giving you the name and job title of the individual who will be handling the complaint. When we acknowledge your complaint we will also provide you with these complaint handling procedures.
We will thoroughly investigate your concerns and the person investigating your complaint will have the authority to settle it and, wherever possible, will not have been directly involved in the matter which is the subject of your complaint. After no more than 8 weeks after our receipt of your complaint, we will provide you i A final response which addresses adequately the subject matter of your complaint and, where a complaint is upheld, offers redress; or ii A response which: If you do not feel that the cause of your complaint has been responded to fully, please contact your complaint handler directly explaining clearly what aspect of your complaint has not been fully addressed by our response.
The complaint handler can only undertake a review of aspects of your complaint that have not been addressed in our final response.
In addition the complaint handler can only respond on matters that have not been addressed in our final response. If we do not hear from you within 14 days of our final response, we will assume that your complaint has been fully resolved.
In the event you remain unhappy with our final response or we do not provide a final response within 8 weeks of your initial complaint, you are entitled to refer your complaint to the Legal Ombudsman at any time within 6 months of the date of any final response we provided.
What are the investor compensation arrangements under the SFO? A: The SFO provided for the establishment of the Investor Compensation Fund to compensate investors who suffer pecuniary losses as a result of defaults of licensed intermediaries or authorized financial institutions occurring on or after 1 April
myICCL Welcome to the self-service area of the Investor Compensation Company DAC ("ICCL") website for Participant Firms. To register for/log into your myICCL account, please input your ICCL Reference number in the below field. PPIClaimback and Banking Refunds is a trading style of Investor Compensation (UK) Limited who is registered in England and Wales under Co. No. Registered office at Unit 1C, Riparian Way, The Crossings Business Park, Cross Hills, BD20 7AA.
The Financial Services Compensation Scheme is meant to protect UK investors should the worst happen. Here’s what you need to know to make sure you’re covered. Investor’s Compensation Fund Leipäteksti The Investors’ Compensation Fund covers customer’s financial assets and instruments held with banks, investment firms and fund management companies providing asset management services (hereafter service .
investor compensation fund General Outline of the Investor Compensation Fund FX Central Clearing Ltd. (License No. CIF /10) is a member of the Investor . The Investor Compensation Fund guarantees payment of compensation to the clients of an investment intermediary by the raised money in the Fund in the cases where the investment intermediary is not able to pay its liabilities to the client due to reasons directly linked to its financial situation.