Investor Compensation Fund
What is it?
ARUMPRO Capital is a member of the Investor Compensation Fund (ICF) which sustains the refund of up to 20 000 EUR in the unlikely event that the company is unable to fulfill its financial obligations.
The ICF covers Retail Clients of the Company.
It does not cover Professional Clients and Eligible Counterparties.
The ICF initiates the compensation payment process in one of the following situations:
- The Cyprus Securities and Exchange Commission (CySEC) has determined by resolution that the Company unable to meet its financial duties as they arise from its clients’ claims, in connection with the investment services offered and there is no foreseeable prospect of improvement in the near future;
- The Cyprus Securities and and Exchange Commission (CySEC) has issued its decision on the commencement of the compensation payment procedure by the ICF as well as has published the said decision in the Official Gazette of the Republic of Cyprus as well as on its website.
Upon issuance of a decision to initiate the compensation payment process by a Court or by CySEC, the ICF publishes, in at least three (3) newspapers of national coverage, an invitation to the covered Clients to make their claims against the Company.
The total payable compensation to each covered Client of the Company may not exceed the amount of twenty thousand Euros (EUR 20,000), irrespective of the number of accounts held, currency and place of offering the investment service.
Click here to read more about the ICF.