Investor Compensation Scheme & Professional Indemnity

The firm carries Professional Indemnity cover of €1,500,000. Our firm is a member of the Investor Compensation Scheme under the Investor Compensation Act, 1998. The Investor Compensation Act 1998 provides for the establishment of a compensation scheme and the payment, in certain circumstances, of compensation to certain clients (known as eligible investors) of authorised investment firms, as defined in that Act. The Investor Compensation Company Ltd (ICCL) was established under the 1998 Act to operate such a compensation scheme and our firm is a member of this scheme.

Compensation may be payable where money or investment instruments owed or belonging to clients and held, administered or managed by the firm cannot be returned to those clients for the time being and where there is no reasonably foreseeable opportunity of the firm being able to do so.

A right to compensation will arise only: " If the client is an eligible investor as defined in the Act; and " If it transpires that the firm is not in a position to return client money or investment instruments owned or belonging to the clients of the firm; and " To the extent that the client's loss is recognised for the purposes of the Act.

Where an entitlement to compensation is established, the compensation payable will be the lesser of: 90% of eligible losses or compensation of up to €20,000.

For further information, contact the Investor Compensation Company Ltd at (01) 224 4955.